Sumitomo Mitsui Trust Holdings Inc. Grows Stake in Genuine Parts (NYSE:GPC)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Genuine Parts (NYSE:GPC) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 403,175 shares of the specialty retailer’s stock after acquiring an additional 3,222 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Genuine Parts worth $55,840,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Comerica Bank purchased a new position in shares of Genuine Parts in the 2nd quarter valued at about $190,000. Sunbelt Securities Inc. boosted its position in shares of Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at about $25,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Genuine Parts in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 11.2 %

Genuine Parts stock opened at $160.23 on Friday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The stock has a 50 day moving average of $149.92 and a two-hundred day moving average of $142.22. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $22.34 billion, a price-to-earnings ratio of 17.17 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.16 by $0.06. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $2.14 EPS. As a group, research analysts expect that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.00 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is presently 42.87%.

Analysts Set New Price Targets

GPC has been the subject of a number of research analyst reports. Wedbush reissued a “neutral” rating and issued a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. Evercore ISI decreased their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $167.00 price objective on shares of Genuine Parts in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.33.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

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.