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

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Genuine Parts (NYSE:GPC) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 283,812 shares of the specialty retailer’s stock after purchasing an additional 40,588 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Genuine Parts worth $33,166,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new position in Genuine Parts in the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC purchased a new position in Genuine Parts in the fourth quarter valued at $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts in the fourth quarter valued at $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts during the 4th quarter worth $29,000. Finally, Synergy Asset Management LLC purchased a new stake in Genuine Parts during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GPC shares. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial boosted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Trading Down 1.7 %

Shares of Genuine Parts stock opened at $118.49 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $121.13 and a 200-day simple moving average of $124.07. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. On average, equities analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.48%. Genuine Parts’s payout ratio is 63.68%.

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.