Dai ichi Life Insurance Company Ltd Sells 22,653 Shares of Genuine Parts (NYSE:GPC)

Dai ichi Life Insurance Company Ltd reduced its stake in Genuine Parts (NYSE:GPC) by 82.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,861 shares of the specialty retailer’s stock after selling 22,653 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Genuine Parts were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the 3rd quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners grew its stake in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in Genuine Parts during the 2nd quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts in the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 0.8 %

Shares of NYSE GPC opened at $126.87 on Friday. The stock has a market capitalization of $17.64 billion, a P/E ratio of 16.33 and a beta of 0.92. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm’s 50 day simple moving average is $128.88 and its two-hundred day simple moving average is $136.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GPC shares. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $139.57.

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.