Genuine Parts (NYSE:GPC) Hits New 1-Year High – Time to Buy?

Genuine Parts Company (NYSE:GPC)’s share price hit a new 52-week high on Tuesday . The company traded as high as $145.20 and last traded at $143.25, with a volume of 319594 shares. The stock had previously closed at $141.26.

Analyst Upgrades and Downgrades

GPC has been the subject of several research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. Truist Financial increased their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their price target for the company from $130.00 to $142.00 in a report on Thursday, November 13th. UBS Group upped their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. upped their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Stock Performance

The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $19.84 billion, a price-to-earnings ratio of 24.51 and a beta of 0.74. The stock’s 50 day moving average is $130.31 and its two-hundred day moving average is $132.53.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were issued a $1.03 dividend. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently bought and sold shares of GPC. Olistico Wealth LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at about $25,000. Community Bank N.A. bought a new position in Genuine Parts in the 3rd quarter valued at about $27,000. Peoples Financial Services CORP. acquired a new stake in Genuine Parts during the third quarter worth approximately $29,000. WPG Advisers LLC grew its position in shares of Genuine Parts by 213.0% in the fourth quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 164 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new stake in Genuine Parts in the 4th quarter valued at $32,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.