Genuine Parts (NYSE:GPC) Receives $171.33 Average PT from Analysts

Shares of Genuine Parts (NYSE:GPC) have earned a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $172.44.

A number of research analysts have recently weighed in on GPC shares. Jefferies Financial Group raised their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Truist Financial increased their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Evercore ISI increased their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a report on Thursday.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Genuine Parts

Several institutional investors have recently bought and sold shares of GPC. Aviva PLC increased its holdings in Genuine Parts by 4.3% during the third quarter. Aviva PLC now owns 5,573 shares of the specialty retailer’s stock valued at $805,000 after buying an additional 232 shares during the period. Rafferty Asset Management LLC grew its holdings in Genuine Parts by 5.8% in the third quarter. Rafferty Asset Management LLC now owns 11,478 shares of the specialty retailer’s stock worth $1,657,000 after purchasing an additional 627 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Genuine Parts in the third quarter worth $1,739,000. V Square Quantitative Management LLC grew its holdings in Genuine Parts by 153.5% in the third quarter. V Square Quantitative Management LLC now owns 2,157 shares of the specialty retailer’s stock worth $311,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Genuine Parts by 7.9% in the third quarter. Hsbc Holdings PLC now owns 315,521 shares of the specialty retailer’s stock worth $45,553,000 after purchasing an additional 23,069 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 0.0 %

Shares of Genuine Parts stock opened at $141.43 on Thursday. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 15.77 and a beta of 0.92. The business has a 50-day moving average price of $149.77 and a 200-day moving average price of $146.39. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. Equities research analysts anticipate that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, June 7th. Genuine Parts’s payout ratio is currently 44.59%.

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.