New York State Teachers Retirement System Sells 2,489 Shares of Genuine Parts (NYSE:GPC)

New York State Teachers Retirement System lowered its position in shares of Genuine Parts (NYSE:GPC) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,289 shares of the specialty retailer’s stock after selling 2,489 shares during the period. New York State Teachers Retirement System’s holdings in Genuine Parts were worth $12,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Geode Capital Management LLC increased its stake in shares of Genuine Parts by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after purchasing an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Genuine Parts by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after acquiring an additional 30,354 shares during the period. Stifel Financial Corp increased its stake in Genuine Parts by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after acquiring an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after acquiring an additional 114,180 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.2 %

Shares of GPC opened at $124.87 on Tuesday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The business’s fifty day moving average is $118.34 and its 200-day moving average is $127.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on GPC. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered 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. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average 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.