Genuine Parts (NYSE:GPC) Price Target Raised to $170.00 at Jefferies Financial Group

Genuine Parts (NYSE:GPC) had its price target boosted by Jefferies Financial Group from $150.00 to $170.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the specialty retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI reduced their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an in-line rating for the company in a research note on Tuesday. Truist Financial boosted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a buy rating in a research note on Friday. Wedbush reissued a neutral rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday. Finally, StockNews.com raised shares of Genuine Parts from a hold rating to a buy rating in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has an average rating of Hold and a consensus price target of $173.10.

Genuine Parts Stock Performance

NYSE GPC opened at $162.39 on Friday. The company’s 50 day moving average is $150.30 and its 200-day moving average is $142.34. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm has a market cap of $22.64 billion, a P/E ratio of 18.10 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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 company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.14 earnings per share. Sell-side analysts predict that Genuine Parts will post 9.85 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s 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 completion of the sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Amalgamated Bank raised its holdings in Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after purchasing an additional 4,047 shares in the last quarter. Conning Inc. lifted its position in Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the period. Teza Capital Management LLC purchased a new position in Genuine Parts during the 3rd quarter valued at about $1,593,000. LPL Financial LLC lifted its position in Genuine Parts by 15.1% during the 3rd quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after acquiring an additional 18,522 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its position in Genuine Parts by 26.2% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after acquiring an additional 50,000 shares during the period. 78.83% of the stock is currently owned by institutional investors.

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.