Mitsubishi UFJ Trust & Banking Corp Has $8.71 Million Holdings in Genuine Parts (NYSE:GPC)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,564 shares of the specialty retailer's stock after selling 12,430 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Genuine Parts worth $8,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after buying an additional 401,180 shares during the period. Geode Capital Management LLC lifted its position in Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after purchasing an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after purchasing an additional 145,960 shares during the period. Stifel Financial Corp grew its position in Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock worth $287,405,000 after purchasing an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after buying an additional 114,180 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

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Genuine Parts Price Performance

Shares of NYSE:GPC traded up $1.44 on Wednesday, reaching $119.89. 514,579 shares of the company traded hands, compared to its average volume of 1,213,642. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market capitalization of $16.64 billion, a PE ratio of 18.53 and a beta of 0.93. The company's 50 day moving average is $121.11 and its 200-day moving average is $123.75. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

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

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is 63.68%.

Analysts Set New Price Targets

Several analysts recently commented on GPC shares. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday. Evercore ISI raised their price objective on shares of Genuine Parts from $125.00 to $128.00 and gave the company an "in-line" rating in a research note on Tuesday. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Hold" and a consensus target price of $135.00.

About Genuine Parts

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.