Brokerages Set Genuine Parts (NYSE:GPC) PT at $139.57

Genuine Parts (NYSE:GPC) has been assigned an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $139.57.

A number of equities analysts have recently commented on GPC shares. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th.

Genuine Parts Stock Down 0.5 %

Shares of GPC stock opened at $115.99 on Monday. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 14.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock’s 50 day simple moving average is $120.94 and its 200 day simple moving average is $131.00. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.49 earnings per share. As a group, research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners increased its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the 3rd quarter valued at $44,000. Finally, Armstrong Advisory Group Inc. boosted its stake in Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.