Bank of Jackson Hole Trust Buys Shares of 3,534 Genuine Parts (NYSE:GPC)

Bank of Jackson Hole Trust bought a new stake in Genuine Parts (NYSE:GPC) during the 4th quarter, Holdings Channel.com reports. The firm bought 3,534 shares of the specialty retailer’s stock, valued at approximately $413,000.

Several other institutional investors have also recently bought and sold shares of GPC. Quantinno Capital Management LP raised its stake in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after purchasing an additional 4,809 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Genuine Parts during the 4th quarter worth approximately $540,000. Miramar Capital LLC raised its stake in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares in the last quarter. Verity & Verity LLC raised its stake in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Finally, Conning Inc. raised its stake in shares of Genuine Parts by 8.2% during the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased 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. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $121.72 on Wednesday. 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 stock’s fifty day moving average price is $118.27 and its two-hundred day moving average price is $127.34. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 15.67 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. During the same period last year, the business posted $2.26 EPS. On average, equities analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.38%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

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.