Brokerages Set Genuine Parts (NYSE:GPC) PT at $161.14

Genuine Parts (NYSE:GPC) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $161.14.

Several research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group cut their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th.

Genuine Parts Price Performance

Genuine Parts stock opened at $134.30 on Tuesday. The firm has a market capitalization of $18.71 billion, a P/E ratio of 14.97 and a beta of 0.90. The business has a 50-day moving average of $139.14 and a 200-day moving average of $146.12. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. On average, equities analysts anticipate that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Hedge Funds Weigh In On Genuine Parts

A number of large investors have recently modified their holdings of GPC. International Assets Investment Management LLC grew its stake in shares of Genuine Parts by 10.3% in the fourth quarter. International Assets Investment Management LLC now owns 5,148 shares of the specialty retailer’s stock valued at $713,000 after buying an additional 480 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Genuine Parts by 26.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 3,134 shares of the specialty retailer’s stock worth $434,000 after purchasing an additional 646 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Genuine Parts by 9.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,455 shares of the specialty retailer’s stock worth $340,000 after purchasing an additional 203 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Genuine Parts by 2.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,010 shares of the specialty retailer’s stock valued at $1,110,000 after purchasing an additional 165 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. bought a new position in Genuine Parts during the fourth quarter worth about $212,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.