Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Genuine Parts (NYSE:GPC) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 404,470 shares of the specialty retailer’s stock after buying an additional 19,444 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.29% of Genuine Parts worth $47,226,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Quantinno Capital Management LP grew its position in shares of Genuine Parts by 74.0% during the third 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 in the last quarter. Caprock Group LLC purchased a new stake in Genuine Parts during the 4th quarter valued at approximately $540,000. Miramar Capital LLC raised its position in shares of Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 7,845 shares during the last quarter. Verity & Verity LLC lifted its holdings in shares of Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after buying an additional 9,199 shares in the last quarter. Finally, Conning Inc. boosted its position in shares of Genuine Parts by 8.2% during the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

NYSE:GPC opened at $118.35 on Tuesday. The firm has a market capitalization of $16.46 billion, a PE ratio of 15.23 and a beta of 0.94. The stock’s fifty day moving average is $118.52 and its 200 day moving average is $128.22. 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 quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

A number of analysts have issued reports on GPC shares. UBS Group reduced their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $141.50.

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.