Genuine Parts (NYSE:GPC) Price Target Raised to $183.00 at Truist Financial

Genuine Parts (NYSE:GPC) had its price objective hoisted by Truist Financial from $167.00 to $183.00 in a report issued on Friday, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

GPC has been the subject of several other reports. Wedbush restated a neutral rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com upgraded shares of Genuine Parts from a hold rating to a buy rating in a research report on Friday, April 5th. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $160.00 to $155.00 and set an in-line rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Genuine Parts currently has an average rating of Hold and a consensus target price of $173.10.

Genuine Parts Trading Up 1.3 %

Genuine Parts stock opened at $162.39 on Friday. The stock has a 50-day simple moving average of $150.30 and a 200 day simple moving average of $142.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.14. The stock has a market capitalization of $22.64 billion, a P/E ratio of 18.10 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $2.14 earnings per share. Analysts expect that Genuine Parts will post 9.85 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is presently 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Genuine Parts

Institutional investors have recently modified their holdings of the business. Amalgamated Bank grew its stake in shares of Genuine Parts by 10.7% in the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after purchasing an additional 4,047 shares during the last quarter. Conning Inc. boosted its position in Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the last quarter. Teza Capital Management LLC bought a new stake in Genuine Parts during the third quarter valued at $1,593,000. LPL Financial LLC boosted its position in Genuine Parts by 15.1% during the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after acquiring an additional 18,522 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its position in Genuine Parts by 26.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after acquiring an additional 50,000 shares during the last quarter. 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.