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

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Genuine Parts (NYSE:GPC) by 16.7% in the 4th quarter, Holdings Channel reports. The fund owned 283,812 shares of the specialty retailer’s stock after acquiring an additional 40,588 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $33,166,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

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

Genuine Parts Stock Down 1.7 %

GPC opened at $118.49 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company 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 one year low of $112.74 and a one year high of $164.45. The business’s fifty day moving average is $121.13 and its two-hundred day moving average is $124.07.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping 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 business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the firm earned $2.26 EPS. Analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 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.