Genuine Parts (NYSE:GPC) Shares Down 4.7% - Should You Sell?

Genuine Parts (NYSE:GPC - Get Free Report) dropped 4.7% during mid-day trading on Tuesday . The stock traded as low as $119.70 and last traded at $118.98. Approximately 356,671 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,524,363 shares. The stock had previously closed at $124.90.

Analyst Upgrades and Downgrades

GPC has been the subject of several research analyst reports. Evercore ISI decreased their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research note on Wednesday. Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Finally, Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $137.63.

Genuine Parts Stock Down 1.3 %

The business has a 50-day simple moving average of $118.29 and a two-hundred day simple moving average of $127.16. 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 company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94.

Genuine Parts (NYSE:GPC - Get Free Report) last issued 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. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the business posted $2.26 earnings per share. As a group, equities analysts predict that Genuine Parts will post 7.91 EPS for the current year.

Genuine Parts Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's payout ratio is 61.82%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company's stock.

Institutional Investors Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of GPC. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts in the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. 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.