Sumitomo Mitsui Trust Group Inc. Buys 19,444 Shares of Genuine Parts (NYSE:GPC)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Genuine Parts (NYSE:GPC) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,470 shares of the specialty retailer’s stock after buying an additional 19,444 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Genuine Parts were worth $47,226,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts during the 3rd quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth $32,000. Concord Wealth Partners grew its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were 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 of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $118.35 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 market cap of $16.46 billion, a PE ratio of 15.23 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. The business has a 50-day simple moving average of $118.52 and a two-hundred day simple moving average of $128.22.

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 given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group lowered their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report 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. Finally, 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 report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.50.

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.