Stonebridge Financial Group LLC Takes $45,000 Position in Genuine Parts (NYSE:GPC)

Stonebridge Financial Group LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, Holdings Channel reports. The firm bought 387 shares of the specialty retailer’s stock, valued at approximately $45,000.

Several other hedge funds have also bought and sold shares of the stock. Metis Global Partners LLC increased its holdings in Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after acquiring an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC boosted its position in shares of Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after purchasing an additional 91 shares during the period. Marco Investment Management LLC increased its stake in shares of Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after purchasing an additional 95 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its position in shares of Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPC. UBS Group cut their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insider Transactions 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 stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 1.9 %

NYSE GPC opened at $124.63 on Friday. The stock has a 50 day moving average price of $118.33 and a 200-day moving average price of $128.01. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market capitalization of $17.33 billion, a P/E ratio of 16.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.21%. Genuine Parts’s payout ratio is currently 51.48%.

Genuine Parts 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.