Schwartz Investment Counsel Inc. Grows Stake in Genuine Parts (NYSE:GPC)

Schwartz Investment Counsel Inc. grew its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,500 shares of the specialty retailer's stock after acquiring an additional 102,000 shares during the quarter. Genuine Parts comprises 1.4% of Schwartz Investment Counsel Inc.'s holdings, making the stock its 26th largest holding. Schwartz Investment Counsel Inc. owned 0.25% of Genuine Parts worth $39,990,000 at the end of the most recent reporting period.

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

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $0.19 on Friday, hitting $124.87. The company's stock had a trading volume of 1,973,798 shares, compared to its average volume of 1,609,981. The company has a 50-day simple moving average of $118.36 and a 200 day simple moving average of $127.88. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market capitalization of $17.36 billion, a PE ratio of 16.07 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.20%. Genuine Parts's payout ratio is currently 51.48%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Finally, UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Eight investment 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $141.50.

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.