Genuine Parts (NYSE:GPC) Holdings Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Genuine Parts (NYSE:GPC) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,496 shares of the specialty retailer’s stock after acquiring an additional 220 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Genuine Parts were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GPC. Invesco Ltd. increased its holdings in shares of Genuine Parts by 71.1% in the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares during the last quarter. International Assets Investment Management LLC grew its stake in Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after buying an additional 708,388 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Genuine Parts by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after buying an additional 367,665 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new position in Genuine Parts during the 3rd quarter worth $41,647,000. 78.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wedbush restated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Jefferies Financial Group upped their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Trading Down 1.0 %

Shares of Genuine Parts stock opened at $161.80 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 18.04 and a beta of 0.94. The business has a fifty day simple moving average of $151.08 and a 200-day simple moving average of $142.62. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91.

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, beating the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 earnings per share. On average, equities analysts forecast that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.00 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.47%. Genuine Parts’s dividend payout ratio is 44.59%.

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.