Genuine Parts (NYSE:GPC) Price Target Raised to $133.00

Genuine Parts (NYSE:GPC) had its price objective raised by Truist Financial from $129.00 to $133.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the specialty retailer’s stock.

GPC has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

NYSE GPC opened at $121.68 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average price is $118.29 and its two-hundred day moving average price is $127.16. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a market capitalization of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 7.91 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 61.82%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Geode Capital Management LLC boosted its position in Genuine Parts by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after buying an additional 65,783 shares during the period. Invesco Ltd. boosted its position in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after buying an additional 518,851 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after buying an additional 145,960 shares during the period. Finally, Stifel Financial Corp boosted its position in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock worth $292,233,000 after buying an additional 445,259 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.