Shares of Genuine Parts (NYSE:GPC - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $119.14, but opened at $116.00. Genuine Parts shares last traded at $117.22, with a volume of 189,196 shares.
Analyst Ratings Changes
Several equities research analysts recently commented on GPC shares. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday. 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. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Evercore ISI upgraded shares of Genuine Parts from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $128.00 to $135.00 in a report on Friday. Finally, Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Hold" and an average target price of $135.88.
View Our Latest Stock Analysis on GPC
Genuine Parts Stock Performance
The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market cap of $16.21 billion, a P/E ratio of 18.05 and a beta of 0.93. The business's 50-day moving average price is $121.16 and its 200-day moving average price is $123.54.
Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. As a group, sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.
Genuine Parts Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.53%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 63.68%.
Institutional Trading of Genuine Parts
Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Wealth Partners Ltd. increased its stake in Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after buying an additional 98 shares in the last quarter. Hartford Financial Management Inc. boosted its stake in shares of Genuine Parts by 0.5% in the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock worth $2,185,000 after acquiring an additional 99 shares during the period. New York Life Investment Management LLC boosted its stake in Genuine Parts by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock worth $2,188,000 after purchasing an additional 108 shares during the period. Grimes & Company Inc. grew its holdings in Genuine Parts by 3.3% during the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer's stock valued at $408,000 after buying an additional 111 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its position in shares of Genuine Parts by 2.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock valued at $541,000 after buying an additional 115 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Company Profile
(
Get Free Report)
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.
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