Genuine Parts (NYSE:GPC) Receives Average Rating of “Hold” from Analysts

Genuine Parts (NYSE:GPC) has been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $173.10.

A number of research analysts have recently issued reports on GPC shares. Jefferies Financial Group boosted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Evercore ISI dropped their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th.

Genuine Parts Stock Up 0.7 %

Shares of NYSE:GPC opened at $157.41 on Wednesday. The firm has a market cap of $21.93 billion, a P/E ratio of 17.55 and a beta of 0.94. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The business has a fifty day simple moving average of $153.39 and a 200 day simple moving average of $143.24. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. Analysts predict that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. North Star Investment Management Corp. lifted its position in Genuine Parts by 8.5% in the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 70 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in shares of Genuine Parts by 3.6% in the first 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 lifted its holdings in shares of Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 74 shares in the last quarter. Financial Counselors Inc. boosted its position in shares of Genuine Parts by 0.3% during the third 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. Finally, Balentine LLC grew its holdings in Genuine Parts by 2.2% during the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock worth $513,000 after buying an additional 76 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

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.