Bank of Jackson Hole Trust Invests $413,000 in Genuine Parts (NYSE:GPC)

Bank of Jackson Hole Trust bought a new position in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,534 shares of the specialty retailer’s stock, valued at approximately $413,000.

Several other large investors also recently made changes to their positions in GPC. International Assets Investment Management LLC grew its holdings in shares of 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 purchasing an additional 580,262 shares during the last quarter. State Street Corp boosted its holdings in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after acquiring an additional 401,180 shares during the last quarter. Boston Trust Walden Corp bought a new position in Genuine Parts in the third quarter valued at about $39,474,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Genuine Parts by 1,038.4% in the third 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 acquiring an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp boosted its holdings in Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after acquiring an additional 191,272 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GPC shares. UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI increased their target price 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. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Wedbush cut their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Trading Down 2.5 %

NYSE:GPC opened at $121.72 on Wednesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market capitalization of $16.92 billion, a PE ratio of 15.67 and a beta of 0.94. The business’s 50-day simple moving average is $118.27 and its 200-day simple moving average is $127.34.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. During the same quarter in the previous year, the firm posted $2.26 EPS. Sell-side analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.38%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 51.48%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

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.