Mitsubishi UFJ Asset Management Co. Ltd. Purchases 40,588 Shares of Genuine Parts (NYSE:GPC)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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. owned 0.20% of Genuine Parts worth $33,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock worth $1,580,000 after purchasing an additional 4,809 shares during the period. Caprock Group LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $540,000. Verity & Verity LLC lifted its holdings in Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after buying an additional 9,199 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $21,840,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer's stock valued at $42,417,000 after buying an additional 56,776 shares during the period. 78.83% of the stock is currently owned by institutional investors.

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Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $1.44 during trading on Wednesday, hitting $119.89. 514,579 shares of the company's stock traded hands, compared to its average volume of 1,213,652. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The business has a 50-day simple moving average of $121.11 and a 200-day simple moving average of $123.75. The stock has a market capitalization of $16.64 billion, a P/E ratio of 18.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm posted $2.26 earnings per share. As a group, analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is currently 63.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GPC. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Evercore ISI increased their price target on shares of Genuine Parts from $125.00 to $128.00 and gave the stock an "in-line" rating in a research note on Tuesday. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday. Finally, 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 note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of "Hold" and a consensus target price of $135.00.

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.