Genuine Parts (NYSE:GPC) Holdings Boosted by LongView Wealth Management

LongView Wealth Management grew its stake in Genuine Parts (NYSE:GPC - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,328 shares of the specialty retailer's stock after buying an additional 5,745 shares during the period. Genuine Parts makes up about 3.0% of LongView Wealth Management's holdings, making the stock its 6th biggest holding. LongView Wealth Management owned 0.06% of Genuine Parts worth $9,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position 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 worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Geode Capital Management LLC increased its stake in Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock worth $458,947,000 after purchasing an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 valued at $383,511,000 after purchasing an additional 30,354 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of 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 purchasing an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of 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 period. Institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GPC. Wedbush cut their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Finally, Loop Capital began coverage on Genuine Parts in a report on Thursday. They set a "buy" rating and a $155.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $141.50.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction dated 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 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 SEC, which is available through this link. Company insiders own 0.37% of the company's stock.

Genuine Parts Stock Down 0.8 %

Shares of Genuine Parts stock traded down $0.99 during midday trading on Friday, hitting $118.43. The company had a trading volume of 2,448,055 shares, compared to its average volume of 983,311. The company has a 50 day moving average of $120.69 and a 200 day moving average of $130.37. The stock has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. 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 (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. During the same period last year, the firm posted $2.49 earnings per share. The firm's quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts's payout ratio is 51.48%.

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.