Analysts Set Genuine Parts (NYSE:GPC) PT at $139.57

Shares of Genuine Parts (NYSE:GPC) have received an average rating of “Hold” from the eight ratings firms that are currently covering the stock, 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 target among analysts that have covered the stock in the last year is $139.57.

Several analysts have commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective 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. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th.

Genuine Parts Trading Down 0.1 %

Shares of Genuine Parts stock opened at $116.45 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $120.85 and a 200 day simple moving average of $131.39. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market capitalization of $16.19 billion, a P/E ratio of 14.99 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the previous year, the business earned $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.43%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the 3rd quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the third quarter worth approximately $31,000. Concord Wealth Partners grew its holdings in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $44,000. Finally, Armstrong Advisory Group Inc. raised its holdings in Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 141 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other 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.