Stonebridge Financial Group LLC Acquires Shares of 387 Genuine Parts (NYSE:GPC)

Stonebridge Financial Group LLC bought a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 387 shares of the specialty retailer’s stock, valued at approximately $45,000.

A number of other large investors have also recently modified their holdings of GPC. Quantinno Capital Management LP lifted its holdings in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the period. Caprock Group LLC bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $540,000. Miramar Capital LLC lifted its stake in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after purchasing an additional 7,845 shares during the period. Verity & Verity LLC boosted its position in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Finally, Conning Inc. grew its stake in Genuine Parts by 8.2% in the third 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 during the period. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GPC. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report 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 for the company in a research note on Wednesday, October 23rd. Truist Financial dropped their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Eight research 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.50.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, 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 filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 1.9 %

Genuine Parts stock opened at $124.63 on Friday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a fifty day simple moving average of $118.33 and a two-hundred day simple moving average of $128.01. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 16.04 and a beta of 0.94.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 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.