Genuine Parts (NYSE:GPC) Given Average Recommendation of “Hold” by Brokerages

Shares of Genuine Parts (NYSE:GPC) have received an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $139.57.

A number of equities analysts recently weighed in on GPC shares. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $116.86 on Monday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $120.88 and a two-hundred day moving average of $131.84. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 15.04 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 earnings per share. As a group, analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.42%. Genuine Parts’s dividend payout ratio is 51.48%.

Insider Activity at Genuine Parts

In related 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 transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale 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 Inflows and Outflows

Several hedge funds have recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners boosted its stake in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $44,000. Finally, Armstrong Advisory Group Inc. lifted its holdings in Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares during the last quarter. 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.