First Merchants Corp Reduces Position in Genuine Parts (GPC)

First Merchants Corp trimmed its position in shares of Genuine Parts (NYSE:GPC) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,416 shares of the specialty retailer’s stock after selling 217 shares during the quarter. First Merchants Corp’s holdings in Genuine Parts were worth $2,344,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc grew its holdings in Genuine Parts by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 14,954,369 shares of the specialty retailer’s stock valued at $1,486,465,000 after buying an additional 191,348 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in Genuine Parts by 4,397.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 5,979,845 shares of the specialty retailer’s stock valued at $594,396,000 after buying an additional 5,846,873 shares in the last quarter. American Century Companies Inc. grew its holdings in Genuine Parts by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,061,657 shares of the specialty retailer’s stock valued at $204,929,000 after buying an additional 107,110 shares in the last quarter. Morgan Stanley grew its holdings in Genuine Parts by 38.3% in the 3rd quarter. Morgan Stanley now owns 1,233,869 shares of the specialty retailer’s stock valued at $122,645,000 after buying an additional 341,980 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Genuine Parts by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 881,458 shares of the specialty retailer’s stock valued at $87,617,000 after buying an additional 7,507 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

In other Genuine Parts news, Director John R. Holder purchased 500 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were acquired at an average price of $100.81 per share, with a total value of $50,405.00. Following the purchase, the director now directly owns 7,058 shares in the company, valued at approximately $711,516.98. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Several analysts have issued reports on the company. Wedbush restated a “neutral” rating on shares of Genuine Parts in a report on Tuesday, January 15th. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Friday, January 4th. Finally, Bank of America cut Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Tuesday, October 30th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Genuine Parts has a consensus rating of “Hold” and an average price target of $103.00.

Shares of Genuine Parts stock opened at $99.82 on Friday. Genuine Parts has a 52 week low of $85.80 and a 52 week high of $105.89. The firm has a market capitalization of $14.59 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 3.31 and a beta of 1.06. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 62.07%.

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Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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