New York State Teachers Retirement System decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 176,102 shares of the specialty retailer’s stock after selling 1,649 shares during the period. New York State Teachers Retirement System’s holdings in Genuine Parts were worth $18,707,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. CWM Advisors LLC raised its position in shares of Genuine Parts by 7.8% during the 4th quarter. CWM Advisors LLC now owns 5,939 shares of the specialty retailer’s stock valued at $631,000 after acquiring an additional 428 shares during the last quarter. Advisor Partners LLC raised its position in shares of Genuine Parts by 2.7% during the 4th quarter. Advisor Partners LLC now owns 6,600 shares of the specialty retailer’s stock valued at $655,000 after acquiring an additional 171 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of Genuine Parts by 56.4% during the 4th quarter. First Midwest Bank Trust Division now owns 10,528 shares of the specialty retailer’s stock valued at $1,118,000 after acquiring an additional 3,798 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Genuine Parts by 4.4% during the 4th quarter. Global Retirement Partners LLC now owns 5,814 shares of the specialty retailer’s stock valued at $618,000 after acquiring an additional 246 shares during the last quarter. Finally, Meyer Handelman Co. raised its position in shares of Genuine Parts by 0.3% during the 4th quarter. Meyer Handelman Co. now owns 98,199 shares of the specialty retailer’s stock valued at $10,432,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 77.13% of the company’s stock.
Several brokerages have commented on GPC. Royal Bank of Canada set a $99.00 target price on shares of Genuine Parts and gave the company a “hold” rating in a research report on Friday, October 18th. Goldman Sachs Group lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and decreased their price target for the company from $101.00 to $93.00 in a report on Friday, October 25th. Finally, Raymond James began coverage on shares of Genuine Parts in a report on Monday, October 7th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $103.75.
Shares of NYSE GPC opened at $96.58 on Wednesday. The firm has a market cap of $14.25 billion, a PE ratio of 17.72, a PEG ratio of 3.09 and a beta of 0.93. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Genuine Parts has a 1-year low of $87.26 and a 1-year high of $115.20. The company has a fifty day moving average price of $103.04 and a 200 day moving average price of $99.41.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, December 5th. Genuine Parts’s payout ratio is presently 53.70%.
In related news, insider Randall P. Breaux sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $107.22, for a total value of $107,220.00. Following the completion of the transaction, the insider now directly owns 2,188 shares of the company’s stock, valued at approximately $234,597.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.
About Genuine Parts
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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