Genuine Parts (NYSE:GPC) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. trimmed its holdings in shares of Genuine Parts (NYSE:GPCFree Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,628 shares of the specialty retailer’s stock after selling 248 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Assetmark Inc. increased its holdings in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares in the last quarter. WD Rutherford LLC acquired a new stake in shares of Genuine Parts during the first quarter worth approximately $26,000. Union Savings Bank increased its stake in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in Genuine Parts in the first quarter valued at $35,000. Finally, Stephens Consulting LLC grew its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI lowered their price target on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Truist Financial upped their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, UBS Group decreased their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $167.75.

Get Our Latest Report on Genuine Parts

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

NYSE GPC opened at $133.62 on Monday. The company has a 50-day moving average price of $145.75 and a two-hundred day moving average price of $146.42. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 14.77 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

About Genuine Parts

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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