Genuine Parts (NYSE:GPC) Receives $139.57 Consensus Target Price from Brokerages

Genuine Parts (NYSE:GPC) has received an average rating of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $139.57.

GPC has been the topic of a number of recent research reports. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI lifted their target price 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. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was 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 through this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

A number of large investors have recently modified their holdings of the business. Quantinno Capital Management LP lifted its position in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares during the last quarter. Miramar Capital LLC raised its position in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 7,845 shares in the last quarter. Conning Inc. lifted its holdings in shares of Genuine Parts by 8.2% during the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the last quarter. WD Rutherford LLC grew its position in Genuine Parts by 4,265.9% in the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after acquiring an additional 7,252 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after acquiring an additional 56,776 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $115.59 on Thursday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company’s 50-day moving average is $124.55 and its 200 day moving average is $134.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market capitalization of $16.07 billion, a P/E ratio of 14.88 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its 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). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.46%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

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.