Essex Savings Bank acquired a new stake in Genuine Parts (NYSE:GPC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 279 shares of the specialty retailer’s stock, valued at approximately $27,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. Private Capital Group LLC lifted its stake in shares of Genuine Parts by 38.3% in the fourth quarter. Private Capital Group LLC now owns 469 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 130 shares during the period. Ipswich Investment Management Co. Inc. acquired a new position in Genuine Parts during the fourth quarter worth about $48,000. Ffcm LLC raised its position in Genuine Parts by 43.4% during the third quarter. Ffcm LLC now owns 14,322 shares of the specialty retailer’s stock worth $108,000 after acquiring an additional 4,332 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Genuine Parts during the fourth quarter worth about $125,000. Finally, Resources Management Corp CT ADV acquired a new position in Genuine Parts during the third quarter worth about $159,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.
A number of brokerages have issued reports on GPC. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Tuesday, January 15th. ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research report on Friday, January 4th. Finally, Bank of America cut shares of Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research report on Tuesday, October 30th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Genuine Parts presently has an average rating of “Hold” and an average target price of $103.00.
In other news, Director John R. Holder purchased 500 shares of the stock in a transaction dated Monday, November 26th. The stock was acquired at an average cost of $100.81 per share, for a total transaction of $50,405.00. Following the completion of the acquisition, the director now directly owns 7,058 shares in the company, valued at approximately $711,516.98. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.10% of the company’s stock.
Shares of NYSE GPC opened at $102.84 on Friday. The stock has a market cap of $15.10 billion, a PE ratio of 22.16, a PEG ratio of 3.43 and a beta of 1.03. Genuine Parts has a 12 month low of $85.80 and a 12 month high of $105.89. The company has a quick ratio of 0.71, a current ratio of 1.33 and a debt-to-equity ratio of 0.67.
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About Genuine Parts
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.
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