Ellington Management Group LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 127.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,600 shares of the specialty retailer’s stock after buying an additional 3,700 shares during the period. Ellington Management Group LLC’s holdings in Genuine Parts were worth $627,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. Trustcore Financial Services LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at $107,000. Valeo Financial Advisors LLC grew its stake in shares of Genuine Parts by 1,061.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,061 shares during the period. Horan Capital Advisors LLC. purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at $134,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Genuine Parts during the 4th quarter worth $192,000. Finally, IBM Retirement Fund purchased a new stake in Genuine Parts during the 3rd quarter worth $200,000. 75.31% of the stock is owned by institutional investors.
Shares of Genuine Parts (NYSE GPC) opened at $91.73 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 0.74. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $107.75. The firm has a market cap of $13,553.87, a price-to-earnings ratio of 21.95, a P/E/G ratio of 2.43 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a $0.72 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. This represents a $2.88 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Thursday, March 8th. Genuine Parts’s dividend payout ratio is presently 68.90%.
GPC has been the subject of a number of research reports. Moffett Nathanson initiated coverage on shares of Genuine Parts in a research report on Monday, December 4th. They set a “sell” rating for the company. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $107.00 price target (down from $114.00) on shares of Genuine Parts in a research report on Wednesday, February 21st. Bank of America decreased their price target on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada decreased their price target on shares of Genuine Parts to $100.00 and set a “market perform” rating for the company in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $97.71.
Genuine Parts Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.