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

Genuine Parts (NYSE:GPC) has received an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $137.63.

A number of research firms have commented on GPC. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently modified their holdings of GPC. Millstone Evans Group LLC bought a new stake in Genuine Parts during the fourth quarter valued at about $25,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC bought a new stake in Genuine Parts during the 4th quarter worth approximately $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Genuine Parts stock opened at $118.93 on Friday. The stock’s 50 day moving average is $120.99 and its 200 day moving average is $124.83. The company has a market capitalization of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the business posted $2.26 EPS. On average, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm 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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

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.