Norinchukin Bank The Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Norinchukin Bank The grew its stake in shares of Genuine Parts (NYSE:GPC) by 11.8% during the 4th quarter, HoldingsChannel reports. The fund owned 6,612 shares of the specialty retailer’s stock after buying an additional 700 shares during the period. Norinchukin Bank The’s holdings in Genuine Parts were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Genuine Parts during the 4th quarter worth about $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter valued at $32,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research analyst reports. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.00.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $111.85 on Tuesday. The firm’s 50 day moving average price is $119.61 and its 200-day moving average price is $121.04. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $15.52 billion, a PE ratio of 17.29 and a beta of 0.82. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $163.86.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the company posted $2.26 EPS. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were given a $1.03 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.68%. Genuine Parts’s dividend payout ratio is presently 63.68%.

Genuine Parts Company 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.