Genuine Parts (NYSE:GPC) Given Consensus Rating of “Hold” by Brokerages

Genuine Parts (NYSE:GPC) has received an average rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $173.10.

Several equities analysts recently commented on the company. Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Truist Financial increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday.

Genuine Parts Price Performance

GPC stock opened at $145.22 on Friday. The business’s 50-day moving average is $153.98 and its two-hundred day moving average is $145.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a market capitalization of $20.23 billion, a P/E ratio of 16.19 and a beta of 0.94. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $170.57.

Genuine Parts (NYSE:GPC) last issued its 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 net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company earned $2.14 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. Analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.75%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction 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 transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GPC. Norges Bank purchased a new stake in shares of Genuine Parts during the 4th quarter worth approximately $215,643,000. Invesco Ltd. boosted its position in Genuine Parts by 71.1% during the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after purchasing an additional 1,076,361 shares in the last quarter. International Assets Investment Management LLC boosted its position in Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after purchasing an additional 708,388 shares in the last quarter. Stifel Financial Corp grew its holdings in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of Genuine Parts by 3,029.9% in the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after buying an additional 368,470 shares in the last quarter. Hedge funds and other institutional investors 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.