Tokio Marine Asset Management Co. Ltd. increased its position in shares of Genuine Parts Co. (NYSE:GPC) by 15.1% during the second quarter, Holdings Channel reports. The institutional investor owned 3,936 shares of the company’s stock after buying an additional 515 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $399,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virginia Retirement System bought a new position in shares of Genuine Parts during the first quarter worth approximately $1,078,000. Ngam Advisors L.P. raised its position in shares of Genuine Parts by 23.7% in the first quarter. Ngam Advisors L.P. now owns 12,549 shares of the company’s stock worth $1,247,000 after buying an additional 2,408 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Genuine Parts by 22.9% in the first quarter. Teachers Advisors Inc. now owns 195,874 shares of the company’s stock worth $19,462,000 after buying an additional 36,518 shares in the last quarter. Sentry Investment Management LLC raised its position in shares of Genuine Parts by 2.9% in the first quarter. Sentry Investment Management LLC now owns 12,135 shares of the company’s stock worth $1,206,000 after buying an additional 345 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Genuine Parts during the first quarter worth approximately $100,000. 71.56% of the stock is owned by institutional investors and hedge funds.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 1.15% during mid-day trading on Tuesday, reaching $97.29. 440,813 shares of the company’s stock traded hands. The stock has a market cap of $14.49 billion, a PE ratio of 21.01 and a beta of 0.92. The firm has a 50 day moving average price of $100.35 and a 200-day moving average price of $99.16. Genuine Parts Co. has a 12 month low of $76.50 and a 12 month high of $105.97.
Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.97 billion. Genuine Parts had a return on equity of 21.79% and a net margin of 4.59%. During the same quarter in the prior year, the business posted $1.28 EPS. On average, analysts predict that Genuine Parts Co. will post $4.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were paid a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Wednesday, September 7th. Genuine Parts’s dividend payout ratio is presently 56.68%.
A number of research analysts have recently commented on GPC shares. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Gabelli cut shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research note on Thursday, July 14th. Jefferies Group cut shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research note on Friday, July 15th. Wedbush reissued a “neutral” rating and issued a $98.00 target price on shares of Genuine Parts in a research note on Wednesday, July 20th. Finally, Argus reissued a “buy” rating and issued a $108.00 target price (up previously from $106.00) on shares of Genuine Parts in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $99.82.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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