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

Elo Mutual Pension Insurance Co increased its position in Genuine Parts (NYSE:GPC) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,282 shares of the specialty retailer’s stock after purchasing an additional 1,908 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Genuine Parts were worth $1,668,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Equity Investment Corp acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $84,128,000. Raymond James Financial Inc. acquired a new stake in Genuine Parts during the 4th quarter worth $57,407,000. State Street Corp increased its stake in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after buying an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in shares of Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after buying an additional 191,272 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GPC shares. Truist Financial upped their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI cut their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Trading Down 1.7 %

Shares of Genuine Parts stock opened at $118.49 on Friday. The company has a 50-day moving average of $121.13 and a two-hundred day moving average of $124.07. The stock has a market cap of $16.44 billion, a PE ratio of 18.31 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.48%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

About Genuine Parts

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.