Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Genuine Parts (NYSE:GPC)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Genuine Parts (NYSE:GPC) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,841 shares of the specialty retailer’s stock after purchasing an additional 9,928 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.14% of Genuine Parts worth $25,847,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Axxcess Wealth Management LLC boosted its position in shares of Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares in the last quarter. Financial Counselors Inc. raised its holdings in Genuine Parts by 0.3% during the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock worth $3,245,000 after purchasing an additional 76 shares in the last quarter. Balentine LLC lifted its position in shares of Genuine Parts by 2.2% during the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock worth $513,000 after buying an additional 76 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Genuine Parts by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after buying an additional 76 shares in the last quarter. Finally, Grimes & Company Inc. boosted its holdings in shares of Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $154.10 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $154.37 and its two-hundred day moving average is $144.71. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The firm has a market capitalization of $21.47 billion, a PE ratio of 17.18 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. Research analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.60%. Genuine Parts’s payout ratio is currently 44.59%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Thursday. Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Jefferies Financial Group increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Truist Financial lifted their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Wedbush reissued a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $173.10.

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.