Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Genuine Parts (NYSE:GPC)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Genuine Parts (NYSE:GPC) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,024 shares of the specialty retailer’s stock after purchasing an additional 171 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Genuine Parts were worth $2,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. WD Rutherford LLC acquired a new position in Genuine Parts in the first quarter valued at $26,000. Stephens Consulting LLC lifted its stake in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts during the 1st quarter worth about $35,000. Manchester Capital Management LLC increased its position in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Genuine Parts in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial reaffirmed a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $157.29.

Genuine Parts Stock Down 0.0 %

Shares of NYSE GPC opened at $143.14 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The stock’s 50-day simple moving average is $138.97 and its 200-day simple moving average is $143.12. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 15.96 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. As a group, equities analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.79%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.