Genuine Parts (NYSE:GPC) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Genuine Parts (NYSE:GPC - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 385,026 shares of the specialty retailer's stock after buying an additional 7,734 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Genuine Parts worth $53,780,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Genuine Parts by 45.9% during the first quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer's stock worth $383,000 after acquiring an additional 778 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of Genuine Parts by 5.7% in the first quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer's stock valued at $548,000 after purchasing an additional 191 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Genuine Parts by 707.2% in the first quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer's stock valued at $2,276,000 after purchasing an additional 12,871 shares during the last quarter. Acadian Asset Management LLC lifted 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 worth $3,560,000 after buying an additional 13,330 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in Genuine Parts by 1.8% during the first quarter. Jacobi Capital Management LLC now owns 8,864 shares of the specialty retailer's stock worth $1,373,000 after buying an additional 157 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GPC shares. The Goldman Sachs Group cut their target price on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Finally, Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $139.57.

Genuine Parts Trading Down 1.0 %

Genuine Parts stock traded down $1.23 during trading on Friday, hitting $122.62. The company had a trading volume of 1,077,356 shares, compared to its average volume of 1,057,741. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company's 50 day simple moving average is $130.79 and its 200-day simple moving average is $138.57. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.26%. Genuine Parts's payout ratio is 51.48%.

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.