Genuine Parts (NYSE:GPC) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in Genuine Parts (NYSE:GPC - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 389,487 shares of the specialty retailer's stock after purchasing an additional 85,811 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.28% of Genuine Parts worth $45,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Weik Capital Management increased its position in Genuine Parts by 10.6% during the 4th quarter. Weik Capital Management now owns 8,265 shares of the specialty retailer's stock valued at $965,000 after purchasing an additional 790 shares during the period. Norges Bank purchased a new position in Genuine Parts in the 4th quarter worth $206,645,000. NEOS Investment Management LLC increased its holdings in Genuine Parts by 26.3% in the 4th quarter. NEOS Investment Management LLC now owns 5,944 shares of the specialty retailer's stock worth $694,000 after buying an additional 1,239 shares during the period. UniSuper Management Pty Ltd raised its position in Genuine Parts by 30.9% during the 4th quarter. UniSuper Management Pty Ltd now owns 18,578 shares of the specialty retailer's stock worth $2,169,000 after buying an additional 4,390 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its stake in Genuine Parts by 15.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 14,282 shares of the specialty retailer's stock valued at $1,668,000 after acquiring an additional 1,908 shares during the period. Institutional investors own 78.83% of the company's stock.

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Genuine Parts Price Performance

Genuine Parts stock traded up $1.48 during trading on Wednesday, reaching $119.93. The company had a trading volume of 299,238 shares, compared to its average volume of 1,212,722. The firm has a market capitalization of $16.64 billion, a PE ratio of 18.54 and a beta of 0.93. The firm's 50-day simple moving average is $121.11 and its 200 day simple moving average is $123.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

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

Genuine Parts Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on GPC. Evercore ISI increased their price objective 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. Truist Financial lifted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research note 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 target for the company. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.