Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in Genuine Parts Company $GPC

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Genuine Parts Company (NYSE:GPC) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 309,785 shares of the specialty retailer’s stock after purchasing an additional 19,814 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Genuine Parts worth $37,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. 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 worth $33,000 after buying an additional 265 shares during the last quarter. Concord Wealth Partners grew its holdings in Genuine Parts by 148.7% during the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 177 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 313 shares during the last quarter. Cromwell Holdings LLC increased its position in shares of Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 114 shares during the last quarter. Finally, Quaker Wealth Management LLC raised its stake in shares of Genuine Parts by 11,533.3% in the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 346 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research reports. Truist Financial lifted their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Evercore ISI lifted their target price on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. UBS Group upped their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Genuine Parts Trading Down 1.3%

NYSE:GPC opened at $125.01 on Tuesday. The firm has a market capitalization of $17.39 billion, a P/E ratio of 21.52 and a beta of 0.75. The business has a 50 day simple moving average of $134.55 and a 200 day simple moving average of $129.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $143.48.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the business earned $1.88 earnings per share. Genuine Parts’s quarterly revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

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.