Hunter Associates Investment Management LLC Boosts Stake in Genuine Parts (NYSE:GPC)

Hunter Associates Investment Management LLC increased its stake in Genuine Parts (NYSE:GPC) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,633 shares of the specialty retailer’s stock after acquiring an additional 625 shares during the period. Hunter Associates Investment Management LLC’s holdings in Genuine Parts were worth $1,830,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GPC. State Street Corp grew its holdings in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Genuine Parts by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after buying an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Genuine Parts by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after buying an additional 30,354 shares during the period. Stifel Financial Corp lifted its stake in shares of Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after acquiring an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after acquiring an additional 114,180 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GPC shares. UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush cut their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Price Performance

GPC stock opened at $118.12 on Friday. The firm has a 50-day moving average of $119.88 and a 200 day moving average of $129.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market cap of $16.42 billion, a P/E ratio of 15.20 and a beta of 0.95. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is presently 51.48%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.