Dai ichi Life Insurance Company Ltd Increases Stock Holdings in Genuine Parts (NYSE:GPC)

Dai ichi Life Insurance Company Ltd increased its holdings in Genuine Parts (NYSE:GPC) by 56.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,514 shares of the specialty retailer’s stock after purchasing an additional 9,934 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Genuine Parts were worth $3,806,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its position in Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the period. Comerica Bank grew its position in Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares during the period. Harvest Investment Advisors LLC grew its position in Genuine Parts by 1.5% during the fourth quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock valued at $1,228,000 after acquiring an additional 133 shares during the period. Mezzasalma Advisors LLC grew its position in Genuine Parts by 497.0% during the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after acquiring an additional 10,019 shares during the period. Finally, Acadian Asset Management LLC grew its position in Genuine Parts by 137.9% during the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after acquiring an additional 13,330 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GPC shares. UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Evercore ISI decreased their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Wedbush decreased their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Trading Up 0.8 %

NYSE:GPC opened at $137.35 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The business’s 50-day simple moving average is $139.38 and its 200 day simple moving average is $145.72. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 15.31 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the firm posted $2.44 EPS. The company’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

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.