Genuine Parts (NYSE:GPC) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Genuine Parts (NYSE:GPC) by 45.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,140 shares of the specialty retailer’s stock after purchasing an additional 6,326 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Genuine Parts were worth $2,356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter worth $31,000. Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter valued at $32,000. Concord Wealth Partners grew its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the 3rd quarter worth $44,000. 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 stock was 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 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 the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

GPC stock opened at $117.77 on Monday. The stock’s 50 day simple moving average is $118.70 and its 200 day simple moving average is $128.35. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The firm has a market cap of $16.37 billion, a P/E ratio of 15.16 and a beta of 0.94. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Company 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.