Genuine Parts Company (NYSE:GPC) Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its position in Genuine Parts Company (NYSE:GPC) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,444 shares of the specialty retailer’s stock after purchasing an additional 2,276 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $7,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GPC. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $227,000. Guggenheim Capital LLC increased its stake in shares of Genuine Parts by 8.4% in the fourth quarter. Guggenheim Capital LLC now owns 79,171 shares of the specialty retailer’s stock valued at $9,244,000 after purchasing an additional 6,157 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of Genuine Parts by 21.1% in the fourth quarter. Insigneo Advisory Services LLC now owns 4,395 shares of the specialty retailer’s stock valued at $513,000 after purchasing an additional 765 shares during the period. NewEdge Advisors LLC increased its stake in shares of Genuine Parts by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 25,060 shares of the specialty retailer’s stock valued at $2,926,000 after purchasing an additional 1,234 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock valued at $3,672,000 after acquiring an additional 25,583 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.1%

Genuine Parts stock opened at $137.84 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The firm has a market cap of $19.17 billion, a price-to-earnings ratio of 23.73 and a beta of 0.75. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.49. The firm’s 50 day moving average price is $126.71 and its two-hundred day moving average price is $122.60.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 earnings per share. On average, research analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Truist Financial raised their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. UBS Group raised their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.29.

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.