Great Lakes Retirement Inc. Boosts Stake in Genuine Parts (NYSE:GPC)

Great Lakes Retirement Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,111 shares of the specialty retailer’s stock after buying an additional 142 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Genuine Parts were worth $1,190,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its stake in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after buying an additional 580,262 shares during the last quarter. State Street Corp grew its position in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Genuine Parts in the 3rd quarter worth $39,474,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Genuine Parts by 1,038.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after buying an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in shares of Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after acquiring an additional 191,272 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by company insiders.

Genuine Parts Price Performance

Shares of GPC opened at $121.75 on Wednesday. The company has a 50 day moving average of $118.41 and a two-hundred day moving average of $128.07. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 15.67 and a beta of 0.94.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.29%. Genuine Parts’s payout ratio is 51.48%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Company Profile

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.