Genuine Parts (NYSE:GPC) Stock Holdings Lowered by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Genuine Parts (NYSE:GPC) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,957 shares of the specialty retailer’s stock after selling 1,133 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Genuine Parts were worth $3,180,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in Genuine Parts by 10.7% in the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after acquiring an additional 4,047 shares in the last quarter. Teza Capital Management LLC bought a new stake in Genuine Parts in the third quarter worth approximately $1,593,000. LPL Financial LLC grew its position in Genuine Parts by 15.1% in the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock worth $20,427,000 after acquiring an additional 18,522 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Genuine Parts by 21.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 51,242 shares of the specialty retailer’s stock worth $7,045,000 after acquiring an additional 9,183 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its stake in shares of Genuine Parts by 507.8% in the third quarter. Quadrature Capital Ltd now owns 10,807 shares of the specialty retailer’s stock worth $1,560,000 after buying an additional 9,029 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

NYSE:GPC opened at $144.07 on Thursday. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The stock has a market cap of $20.09 billion, a P/E ratio of 15.44 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The company has a fifty day moving average price of $149.56 and a 200 day moving average price of $142.09.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The business’s revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $1.00 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.78%. Genuine Parts’s dividend payout ratio is currently 42.87%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GPC. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI reduced their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Truist Financial restated a “buy” rating and issued a $167.00 price objective on shares of Genuine Parts in a research note on Friday, April 12th. Finally, Wedbush restated a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and a consensus price target of $168.33.

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.