Genuine Parts (NYSE:GPC) Price Target Raised to $145.00 at JPMorgan Chase & Co.

Genuine Parts (NYSE:GPC - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $134.00 to $145.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty retailer's stock.

GPC has been the topic of a number of other reports. Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Evercore ISI cut their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Genuine Parts has an average rating of "Hold" and an average target price of $135.29.

Genuine Parts Trading Up 0.3%

Genuine Parts stock traded up $0.36 during mid-day trading on Wednesday, hitting $133.57. 823,068 shares of the stock were exchanged, compared to its average volume of 1,164,651. The company has a quick ratio of 0.52, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $149.22. The firm's fifty day simple moving average is $124.96 and its two-hundred day simple moving average is $121.12. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 22.99 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 EPS. Analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts's payout ratio is currently 70.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GPC. Geode Capital Management LLC grew its holdings in shares of 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 during the last quarter. Goldman Sachs Group Inc. raised its stake in Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the period. Invesco Ltd. increased its stake in shares of 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 acquiring an additional 518,851 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock worth $358,387,000 after acquiring an additional 119,653 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock worth $327,974,000 after buying an additional 498,469 shares during the last quarter. 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.