Genuine Parts (NYSE:GPC) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,026 shares of the specialty retailer’s stock after purchasing an additional 7,734 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Genuine Parts were worth $53,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GPC. First Citizens Bank & Trust Co. lifted its position in shares of Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 75 shares during the last quarter. Dover Advisors LLC lifted its holdings in shares of Genuine Parts by 5.1% during the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after purchasing an additional 85 shares during the last quarter. Blackhawk Capital Partners LLC. boosted its position in shares of Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares during the period. Valeo Financial Advisors LLC increased its stake in Genuine Parts by 3.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,173 shares of the specialty retailer’s stock worth $439,000 after purchasing an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Genuine Parts by 4.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,216 shares of the specialty retailer’s stock worth $307,000 after buying an additional 95 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group reduced their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

GPC opened at $122.62 on Friday. The stock has a fifty day moving average price of $130.79 and a 200 day moving average price of $138.57. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.49 EPS. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.26%. The ex-dividend date was Friday, September 6th. Genuine Parts’s payout ratio is 51.48%.

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.