Elo Mutual Pension Insurance Co Grows Holdings in Genuine Parts (NYSE:GPC)

Elo Mutual Pension Insurance Co lifted its position in shares of Genuine Parts (NYSE:GPC) by 15.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,282 shares of the specialty retailer’s stock after buying an additional 1,908 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Genuine Parts were worth $1,668,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Artisan Partners Limited Partnership acquired a new position in Genuine Parts in the 4th quarter valued at $19,966,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Genuine Parts by 16.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 283,812 shares of the specialty retailer’s stock valued at $33,166,000 after purchasing an additional 40,588 shares during the period. Korea Investment CORP lifted its position in Genuine Parts by 38.7% during the fourth quarter. Korea Investment CORP now owns 77,483 shares of the specialty retailer’s stock worth $9,047,000 after buying an additional 21,600 shares during the period. TrueMark Investments LLC boosted its stake in Genuine Parts by 9.1% in the 4th quarter. TrueMark Investments LLC now owns 21,752 shares of the specialty retailer’s stock worth $2,540,000 after buying an additional 1,817 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Genuine Parts by 20.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,215 shares of the specialty retailer’s stock valued at $7,498,000 after buying an additional 11,100 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $118.49 on Friday. The firm has a market cap of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a 50-day simple moving average of $121.13 and a 200-day simple moving average of $124.07.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the firm posted $2.26 earnings per share. On average, equities analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analysts Set New Price Targets

GPC has been the topic of several research analyst reports. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average target price of $137.63.

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.