Grimes & Company Inc. Has $408,000 Stake in Genuine Parts (NYSE:GPC)

Grimes & Company Inc. boosted its position in shares of Genuine Parts (NYSE:GPC) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,494 shares of the specialty retailer’s stock after acquiring an additional 111 shares during the period. Grimes & Company Inc.’s holdings in Genuine Parts were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPC. Quantinno Capital Management LP increased its holdings in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after purchasing an additional 4,809 shares during the period. Miramar Capital LLC increased its holdings in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares during the period. Verity & Verity LLC increased its holdings in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares during the period. Conning Inc. increased its holdings in shares of Genuine Parts by 8.2% during the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares during the period. Finally, WD Rutherford LLC increased its holdings in shares of Genuine Parts by 4,265.9% during the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after purchasing an additional 7,252 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on 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 directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $117.19 on Friday. The firm has a market cap of $16.29 billion, a price-to-earnings ratio of 15.08 and a beta of 0.95. The company has a 50 day moving average of $120.21 and a 200-day moving average of $129.89. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Wall Street Analyst Weigh In

GPC has been the topic of several research reports. Wedbush dropped their price objective 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 lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.50.

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.