Resona Asset Management Co. Ltd. Sells 4,646 Shares of Genuine Parts Company $GPC

Resona Asset Management Co. Ltd. reduced its position in Genuine Parts Company (NYSE:GPC) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,219 shares of the specialty retailer’s stock after selling 4,646 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $8,083,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Peoples Financial Services CORP. bought a new position in shares of Genuine Parts in the third quarter valued at approximately $29,000. Golden State Wealth Management LLC increased its stake in shares of Genuine Parts by 8,833.3% in the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 265 shares in the last quarter. Concord Wealth Partners raised its holdings in shares of Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 177 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after buying an additional 313 shares in the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $139.19 on Tuesday. The firm has a fifty day moving average of $128.98 and a two-hundred day moving average of $131.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The stock has a market capitalization of $19.36 billion, a price-to-earnings ratio of 23.96 and a beta of 0.75. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $143.48.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a $1.03 dividend. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GPC shares. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. Finally, Truist Financial upped their price target on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.