Lebenthal Global Advisors LLC Makes New $401,000 Investment in Genuine Parts (NYSE:GPC)

Lebenthal Global Advisors LLC purchased a new position in Genuine Parts (NYSE:GPC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,438 shares of the specialty retailer’s stock, valued at approximately $401,000.

Several other large investors also recently modified their holdings of GPC. Public Sector Pension Investment Board grew its stake in Genuine Parts by 66.0% during the second quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 2,095 shares during the period. MBB Public Markets I LLC bought a new position in Genuine Parts during the second quarter worth $1,236,000. Creative Planning grew its holdings in Genuine Parts by 0.5% in the second quarter. Creative Planning now owns 57,077 shares of the specialty retailer’s stock worth $7,895,000 after purchasing an additional 280 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Genuine Parts by 1.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,802 shares of the specialty retailer’s stock valued at $1,909,000 after purchasing an additional 253 shares during the period. Finally, Quarry LP raised its holdings in shares of Genuine Parts by 822.2% during the second quarter. Quarry LP now owns 581 shares of the specialty retailer’s stock valued at $80,000 after purchasing an additional 518 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GPC. Wedbush dropped their price target 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. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Evercore ISI boosted their price target 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, JPMorgan Chase & Co. dropped their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Up 2.5 %

Genuine Parts stock opened at $120.14 on Tuesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm’s 50-day simple moving average is $120.13 and its 200 day simple moving average is $129.76. The stock has a market cap of $16.70 billion, a PE ratio of 15.46 and a beta of 0.95.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by company insiders.

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.