Genuine Parts (NYSE:GPC) Price Target Raised to $183.00 at Truist Financial

Genuine Parts (NYSE:GPC) had its price objective upped by Truist Financial from $167.00 to $183.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer’s stock.

Other equities research analysts also recently issued research reports about the stock. Wedbush restated a neutral rating and issued a $140.00 price target on shares of Genuine Parts in a research report on Friday, February 16th. Evercore ISI reduced their price target on shares of Genuine Parts from $160.00 to $155.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $173.10.

Genuine Parts Stock Up 0.4 %

Shares of NYSE:GPC opened at $163.09 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The company has a market cap of $22.72 billion, a PE ratio of 18.18 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The firm has a 50 day simple moving average of $150.66 and a 200 day simple moving average of $142.49.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, research analysts expect that Genuine Parts will post 9.86 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.45%. Genuine Parts’s dividend payout ratio is 44.59%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CHICAGO TRUST Co NA increased its stake in shares of Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after purchasing an additional 71 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares during the last quarter. Financial Counselors Inc. grew its stake in Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after buying an additional 76 shares during the last quarter. Balentine LLC grew its stake in Genuine Parts by 2.2% in the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after buying an additional 76 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in Genuine Parts by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.