Genuine Parts Company (NYSE:GPC) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its position in Genuine Parts Company by 2.2%, owning approximately 289,971 shares valued at $34.5 million as of the first quarter.
• Genuine Parts recently reported $2.10 EPS for the last quarter, exceeding analysts' estimates, with revenues of $6.16 billion, a 3.4% increase from the previous year.
• Analysts' ratings for Genuine Parts vary, with one sell rating, five holds, four buys, and one strong buy, yielding a current consensus rating of "Hold" and an average target price of $135.29.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Genuine Parts Company (NYSE:GPC - Free Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,971 shares of the specialty retailer's stock after acquiring an additional 6,159 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of Genuine Parts worth $34,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Genuine Parts by 30.3% during the 4th quarter. Wellington Management Group LLP now owns 29,717 shares of the specialty retailer's stock worth $3,470,000 after purchasing an additional 6,916 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Genuine Parts by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 62,790 shares of the specialty retailer's stock worth $7,331,000 after purchasing an additional 280 shares during the last quarter. Argent Trust Co boosted its stake in Genuine Parts by 6.1% during the 4th quarter. Argent Trust Co now owns 5,498 shares of the specialty retailer's stock worth $642,000 after purchasing an additional 316 shares during the last quarter. Sterling Capital Management LLC boosted its position in Genuine Parts by 47.0% during the fourth quarter. Sterling Capital Management LLC now owns 9,199 shares of the specialty retailer's stock worth $1,074,000 after acquiring an additional 2,941 shares during the last quarter. Finally, Ceeto Capital Group LLC acquired a new position in Genuine Parts during the fourth quarter worth about $589,000. 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 company. Truist Financial boosted their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Evercore ISI lowered their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. UBS Group boosted their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Loop Capital boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of "Hold" and an average target price of $135.29.

Genuine Parts Stock Performance

Shares of GPC stock opened at $133.09 on Friday. The firm's 50 day moving average price is $126.00 and its 200-day moving average price is $122.14. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.49. The firm has a market cap of $18.51 billion, a P/E ratio of 22.91 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

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.

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