4,738 Shares in Genuine Parts (NYSE:GPC) Purchased by Lederer & Associates Investment Counsel CA

Lederer & Associates Investment Counsel CA acquired a new position in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 4,738 shares of the specialty retailer’s stock, valued at approximately $553,000.

Several other hedge funds have also bought and sold shares of the business. State Street Corp boosted its stake 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 worth $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Geode Capital Management LLC raised its holdings in Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after buying an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after buying an additional 30,354 shares during the last quarter. Stifel Financial Corp raised its holdings in Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after buying an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after buying an additional 114,180 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPC. UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $141.50.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction 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 sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $116.13 on Monday. 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 has a fifty day moving average price of $119.71 and a 200 day moving average price of $129.07. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 14.95 and a beta of 0.94.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. 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 3.44%. Genuine Parts’s dividend payout ratio is 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.