Genuine Parts (NYSE:GPC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Genuine Parts (NYSE:GPC) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research 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 brokerages that have issued ratings on the stock in the last year is $173.10.

GPC has been the subject of several recent research reports. Evercore ISI dropped their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Truist Financial increased their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Wedbush restated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th.

Genuine Parts Stock Up 0.7 %

NYSE GPC opened at $157.41 on Wednesday. The stock has a market capitalization of $21.93 billion, a P/E ratio of 17.55 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The stock has a fifty day moving average of $153.39 and a 200-day moving average of $143.24.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the company earned $2.14 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities research analysts forecast that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Announces Dividend

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

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Genuine Parts

Several hedge funds have recently made changes to their positions in GPC. North Star Investment Management Corp. lifted its position in shares of Genuine Parts by 8.5% in the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares in the last quarter. CHICAGO TRUST Co NA lifted its position in Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after buying an additional 71 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after buying an additional 74 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of Genuine Parts by 0.3% during the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock worth $3,245,000 after buying an additional 76 shares during the last quarter. Finally, Balentine LLC grew its holdings in shares of Genuine Parts by 2.2% in the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after acquiring 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.