Stoneridge Investment Partners LLC Invests $3.36 Million in Genuine Parts (NYSE:GPC)

Stoneridge Investment Partners LLC acquired a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 28,755 shares of the specialty retailer's stock, valued at approximately $3,357,000. Genuine Parts comprises 1.2% of Stoneridge Investment Partners LLC's holdings, making the stock its 27th largest position.

A number of other large investors have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock valued at $81,621,000 after buying an additional 580,262 shares in the last quarter. State Street Corp raised its stake in Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in Genuine Parts in the 3rd quarter worth about $39,474,000. Caisse DE Depot ET Placement DU Quebec increased its position in Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer's stock worth $38,803,000 after purchasing an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock worth $54,708,000 after buying an additional 191,272 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm's 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 $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on GPC shares. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Wedbush cut their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target 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, UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of "Hold" and an average price target of $141.50.

Genuine Parts Price Performance

GPC stock traded up $0.43 during midday trading on Wednesday, reaching $122.13. 1,229,319 shares of the stock were exchanged, compared to its average volume of 1,552,449. The stock has a market capitalization of $16.98 billion, a PE ratio of 15.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a fifty day moving average price of $118.33 and a 200 day moving average price of $128.03.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is presently 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.