Ipswich Investment Management Co. Inc. Takes $48,000 Position in Genuine Parts (GPC)

Ipswich Investment Management Co. Inc. bought a new position in Genuine Parts (NYSE:GPC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 500 shares of the specialty retailer’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GPC. Renaissance Technologies LLC bought a new stake in shares of Genuine Parts in the second quarter worth about $10,749,000. Raymond James & Associates boosted its position in Genuine Parts by 19.0% during the 2nd quarter. Raymond James & Associates now owns 114,291 shares of the specialty retailer’s stock valued at $10,491,000 after acquiring an additional 18,281 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Genuine Parts by 70.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,378 shares of the specialty retailer’s stock valued at $402,000 after acquiring an additional 1,814 shares in the last quarter. Centaurus Financial Inc. bought a new stake in Genuine Parts during the 2nd quarter valued at approximately $213,000. Finally, California Public Employees Retirement System boosted its position in Genuine Parts by 21.8% during the 2nd quarter. California Public Employees Retirement System now owns 494,166 shares of the specialty retailer’s stock valued at $45,359,000 after acquiring an additional 88,392 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors.

In other Genuine Parts news, Director John R. Holder bought 500 shares of the stock in a transaction dated Monday, November 26th. The stock was purchased at an average cost of $100.81 per share, for a total transaction of $50,405.00. Following the completion of the acquisition, the director now owns 7,058 shares of the company’s stock, valued at $711,516.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.

Several analysts have weighed in on GPC shares. ValuEngine cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Bank of America cut Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research report on Tuesday, October 30th. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research report on Friday, January 4th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $103.00.

Genuine Parts stock opened at $97.06 on Friday. Genuine Parts has a fifty-two week low of $85.80 and a fifty-two week high of $107.75. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 3.20 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.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.48. Genuine Parts had a net margin of 3.99% and a return on equity of 22.54%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, analysts forecast that Genuine Parts will post 5.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 7th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $2.88 annualized dividend and a dividend yield of 2.97%. Genuine Parts’s payout ratio is 62.07%.

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Genuine Parts Company Profile

Genuine Parts Co engages in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. It operates through the following segments: Automotive, Industrial, Office Products, and Electrical/Electronic Materials. The Automotive segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

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

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