Truist Financial Issues Positive Forecast for Genuine Parts (NYSE:GPC) Stock Price

Genuine Parts (NYSE:GPC - Free Report) had its price objective lifted by Truist Financial from $129.00 to $133.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the specialty retailer's stock.

GPC has been the subject of several other reports. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Evercore ISI cut their price objective on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research report on Wednesday. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of "Hold" and a consensus target price of $137.63.

Genuine Parts Trading Down 1.3 %

Shares of Genuine Parts stock traded down $1.59 during trading on Wednesday, reaching $121.68. 1,466,225 shares of the stock were exchanged, compared to its average volume of 1,617,412. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock's fifty day moving average is $118.28 and its 200 day moving average is $127.27.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period last year, the company earned $2.26 EPS. As a group, equities research analysts expect that Genuine Parts will post 7.91 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio is currently 61.82%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings 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 valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Geode Capital Management LLC lifted its position in Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after purchasing an additional 65,783 shares in the last quarter. Invesco Ltd. increased its position in Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after buying an additional 145,960 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after acquiring an additional 445,259 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Company Profile

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.