Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 25.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,263 shares of the specialty retailer’s stock after selling 1,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Genuine Parts were worth $524,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GPC. Millennium Management LLC boosted its position in Genuine Parts by 1,249.9% during the 1st quarter. Millennium Management LLC now owns 167,503 shares of the specialty retailer’s stock worth $15,048,000 after acquiring an additional 155,094 shares during the period. WINTON GROUP Ltd boosted its position in Genuine Parts by 16.6% during the 1st quarter. WINTON GROUP Ltd now owns 4,165 shares of the specialty retailer’s stock worth $374,000 after acquiring an additional 592 shares during the period. Allianz Asset Management GmbH boosted its position in Genuine Parts by 14.2% during the 1st quarter. Allianz Asset Management GmbH now owns 137,430 shares of the specialty retailer’s stock worth $12,347,000 after acquiring an additional 17,099 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Genuine Parts during the 1st quarter worth $477,000. Finally, DnB Asset Management AS boosted its position in Genuine Parts by 6.6% during the 2nd quarter. DnB Asset Management AS now owns 17,820 shares of the specialty retailer’s stock worth $1,636,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 76.49% of the company’s stock.
Shares of Genuine Parts stock opened at $98.33 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $14.46 billion, a PE ratio of 21.19, a PEG ratio of 2.66 and a beta of 1.17. Genuine Parts has a fifty-two week low of $84.71 and a fifty-two week high of $107.75.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $2.88 annualized dividend and a dividend yield of 2.93%. Genuine Parts’s dividend payout ratio (DPR) is 62.07%.
A number of research analysts have issued reports on GPC shares. Royal Bank of Canada boosted their price target on Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 12th. Wedbush upped their price objective on Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Zacks Investment Research lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Finally, Bank of America lowered Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.60.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
Featured Story: Penny Stocks
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.