Genuine Parts (NYSE:GPC) Given Consensus Rating of "Hold" by Analysts

Genuine Parts (NYSE:GPC - Get Free Report) has been given an average rating of "Hold" by the eight brokerages that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $139.57.

Several research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Truist Financial dropped their price target on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd.

Genuine Parts Trading Down 1.0 %

Shares of NYSE:GPC opened at $122.62 on Friday. 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 stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50 day moving average price of $130.79 and a 200 day moving average price of $138.44.

Genuine Parts (NYSE:GPC - Get Free Report) 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). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.49 earnings per share. On average, research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.26%. Genuine Parts's dividend payout ratio is 51.48%.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds have recently added to or reduced their stakes in the company. Wulff Hansen & CO. increased its stake in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer's stock worth $216,675,000 after purchasing an additional 1,555,149 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock worth $81,621,000 after purchasing an additional 580,262 shares in the last quarter. State Street Corp increased its position in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Boston Trust Walden Corp bought a new position in Genuine Parts during the third quarter valued at about $39,474,000. Finally, Natixis lifted its position in shares of Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer's stock worth $49,014,000 after buying an additional 279,930 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

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.