Mitsubishi UFJ Trust & Banking Corp Lowers Stake in Genuine Parts (NYSE:GPC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Genuine Parts (NYSE:GPC) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,564 shares of the specialty retailer’s stock after selling 12,430 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Genuine Parts worth $8,706,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GPC shares. Evercore ISI decreased their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. 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 report on Wednesday, February 19th. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight investment 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’s stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Trading Down 1.7 %

NYSE:GPC opened at $118.49 on Friday. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. 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 firm has a 50 day moving average of $121.13 and a 200 day moving average of $124.07.

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

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 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.