Genuine Parts (NYSE:GPC) PT Lowered to $155.00 at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective lowered by Evercore ISI from $160.00 to $155.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an in-line rating on the specialty retailer’s stock.

A number of other research firms have also recently weighed in on GPC. Wedbush restated a neutral rating and issued a $140.00 price target on shares of Genuine Parts in a report on Friday, February 16th. StockNews.com upgraded Genuine Parts from a hold rating to a buy rating in a report on Friday, April 5th. Finally, Truist Financial reiterated a buy rating and set a $167.00 target price on shares of Genuine Parts in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has a consensus rating of Moderate Buy and a consensus price target of $168.33.

Genuine Parts Stock Performance

GPC opened at $160.23 on Tuesday. The stock has a market cap of $22.34 billion, a P/E ratio of 17.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $149.92 and its 200 day simple moving average is $142.22. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.06. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 EPS. As a group, equities analysts anticipate that Genuine Parts will post 9.76 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $1.00 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. Genuine Parts’s dividend payout ratio (DPR) is 42.87%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’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 sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Genuine Parts by 2.9% during the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after purchasing an additional 481,039 shares during the last quarter. State Street Corp raised its position in shares of Genuine Parts by 2.4% in the 1st quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock worth $1,209,476,000 after buying an additional 171,000 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Genuine Parts by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock worth $612,531,000 after buying an additional 185,529 shares during the period. Geode Capital Management LLC raised its position in shares of Genuine Parts by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock worth $497,089,000 after buying an additional 36,774 shares during the period. Finally, Imprint Wealth LLC raised its position in shares of Genuine Parts by 16,507.5% in the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after buying an additional 2,595,471 shares during the period. 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.