The Genuine Parts Co. (GPC) Stake Increased by Adage Capital Partners GP L.L.C.

The Genuine Parts Co. (GPC) Stake Increased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its position in Genuine Parts Co. (NYSE:GPC) by 4.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 217,055 shares of the company’s stock after buying an additional 9,100 shares during the period. Adage Capital Partners GP L.L.C. owned 0.15% of Genuine Parts worth $21,803,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Genuine Parts by 76.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,823 shares of the company’s stock worth $3,096,000 after buying an additional 13,348 shares during the period. Hartford Investment Management Co. boosted its stake in shares of Genuine Parts by 0.4% in the third quarter. Hartford Investment Management Co. now owns 36,439 shares of the company’s stock worth $3,660,000 after buying an additional 136 shares during the period. Crawford Investment Counsel Inc. boosted its stake in shares of Genuine Parts by 4.7% in the third quarter. Crawford Investment Counsel Inc. now owns 725,243 shares of the company’s stock worth $72,851,000 after buying an additional 32,707 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Genuine Parts by 3.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 19,045 shares of the company’s stock worth $1,913,000 after buying an additional 600 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Genuine Parts by 17.7% in the third quarter. ProShare Advisors LLC now owns 526,541 shares of the company’s stock worth $52,891,000 after buying an additional 79,271 shares during the period. Institutional investors and hedge funds own 70.62% of the company’s stock.

Genuine Parts Co. (NYSE:GPC) opened at 99.29 on Thursday. Genuine Parts Co. has a 52 week low of $78.49 and a 52 week high of $105.97. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 21.45 and a beta of 0.93. The stock has a 50 day moving average of $97.48 and a 200 day moving average of $98.29.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were given a $0.6575 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.65%. Genuine Parts’s payout ratio is presently 56.68%.

A number of equities research analysts recently issued reports on the stock. Goldman Sachs Group Inc. upgraded shares of Genuine Parts to a “neutral” rating in a research report on Thursday. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Tuesday, January 3rd. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, December 20th. Atlantic Securities started coverage on shares of Genuine Parts in a research report on Wednesday, December 14th. They issued a “neutral” rating and a $100.00 price objective for the company. Finally, Jefferies Group lowered their price objective on shares of Genuine Parts to $95.00 in a research report on Thursday, October 20th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $98.91.

Genuine Parts Company 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.

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