Mirae Asset Global Investments Co. Ltd. Sells 1,133 Shares of Genuine Parts (NYSE:GPC)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Genuine Parts (NYSE:GPC) by 4.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank bought a new position in shares of Genuine Parts during the 2nd quarter worth $190,000. Sunbelt Securities Inc. grew its position in shares of Genuine Parts by 122.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after buying an additional 88 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Genuine Parts during the 3rd quarter worth $25,000. OFI Invest Asset Management bought a new position in shares of Genuine Parts during the 3rd quarter worth $25,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Genuine Parts during the 2nd quarter worth $31,000. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was 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 directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Genuine Parts Trading Down 0.3 %

Genuine Parts stock opened at $144.07 on Thursday. The stock has a 50-day moving average of $149.56 and a two-hundred day moving average of $142.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. 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 PE ratio of 15.44 and a beta of 0.94.

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

Genuine Parts Increases Dividend

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

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.