Genuine Parts (NYSE:GPC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Genuine Parts (NYSE:GPC) from a hold rating to a buy rating in a report released on Tuesday morning.

Other equities analysts have also issued reports about the company. Truist Financial increased their price target on Genuine Parts from $155.00 to $157.00 and gave the company a buy rating in a research note on Friday, February 16th. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the company an in-line rating in a research note on Tuesday. Finally, Wedbush reissued a neutral rating and set a $140.00 price target on shares of Genuine Parts in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $167.78.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $154.93 on Tuesday. The stock’s 50-day simple moving average is $147.86 and its 200-day simple moving average is $141.93. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of 16.61 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating the consensus estimate of $2.20 by $0.06. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, analysts expect that Genuine Parts will post 9.77 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.58%. Genuine Parts’s dividend payout ratio is 42.87%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Genuine Parts

Several hedge funds and other institutional investors have recently modified their holdings of GPC. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Genuine Parts in the third quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in shares of Genuine Parts in the third quarter worth approximately $25,000. Assetmark Inc. raised its holdings in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the period. Sunbelt Securities Inc. increased its holdings in Genuine Parts by 122.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 88 shares during the period. Finally, Briaud Financial Planning Inc purchased a new position in Genuine Parts during the 3rd quarter worth $28,000. 78.83% of the stock is currently 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.