Genuine Parts (NYSE:GPC) Upgraded at Loop Capital

Loop Capital upgraded shares of Genuine Parts (NYSE:GPC) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

GPC has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Wedbush dropped their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock 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. Finally, UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Eight 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 stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average price target of $141.50.

Genuine Parts Trading Down 0.8 %

Genuine Parts stock opened at $118.43 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s 50-day moving average is $120.69 and its 200-day moving average is $130.43. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95.

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

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.38%. Genuine Parts’s payout ratio is 51.48%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

Several institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP raised its position in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after acquiring an additional 4,809 shares in the last quarter. Miramar Capital LLC grew its stake in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares during the last quarter. Conning Inc. raised its holdings in shares of Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares in the last quarter. WD Rutherford LLC lifted its stake in Genuine Parts by 4,265.9% during the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 7,252 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after buying an additional 56,776 shares in 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.