Genuine Parts (NYSE:GPC) Price Target Cut to $155.00

Genuine Parts (NYSE:GPC - Free Report) had its price target reduced by Evercore ISI from $160.00 to $155.00 in a research note published on Tuesday, Benzinga reports. They currently have an in-line rating on the specialty retailer's stock.

Several other equities analysts have also issued reports on GPC. Truist Financial reissued a buy rating and issued a $167.00 price target on shares of Genuine Parts in a research note on Friday. StockNews.com raised Genuine Parts from a hold rating to a buy rating in a research report on Friday, April 5th. Finally, Wedbush reaffirmed a neutral rating and set a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $168.33.

Genuine Parts Trading Down 0.2 %

GPC traded down $0.23 during trading on Tuesday, hitting $144.52. The company's stock had a trading volume of 1,100,381 shares, compared to its average volume of 977,139. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The stock's fifty day moving average price is $149.54 and its 200-day moving average price is $142.08. The firm has a market capitalization of $20.15 billion, a P/E ratio of 15.49 and a beta of 0.94.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. The company's revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Genuine Parts will post 9.76 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.77%. This is an increase from Genuine Parts's previous quarterly dividend of $0.95. Genuine Parts's dividend payout ratio is 42.87%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the company's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genuine Parts

Institutional investors have recently bought and sold shares of the stock. Householder Group Estate & Retirement Specialist LLC bought a new position in Genuine Parts in the 3rd quarter valued at $25,000. OFI Invest Asset Management bought a new position in Genuine Parts in the 3rd quarter valued at $25,000. Assetmark Inc. grew its stake in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 96 shares during the period. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter valued at $26,000. Finally, Sunbelt Securities Inc. grew its stake in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 88 shares during the period. Institutional investors 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.