Genuine Parts (NYSE:GPC) Price Target Cut to $125.00 by Analysts at Evercore ISI

Genuine Parts (NYSE:GPC) had its price objective trimmed by Evercore ISI from $128.00 to $125.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an in-line rating on the specialty retailer’s stock.

Several other analysts have also weighed in on the company. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Up 0.3 %

Shares of GPC opened at $122.03 on Wednesday. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 15.71 and a beta of 0.94. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The business’s 50 day simple moving average is $118.25 and its 200-day simple moving average is $127.30. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the firm earned $2.26 EPS. As a group, equities analysts expect that Genuine Parts will post 8.08 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Genuine Parts

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parr Mcknight Wealth Management Group LLC bought a new position in shares of Genuine Parts during the 4th quarter worth $462,000. Pinkerton Retirement Specialists LLC boosted its position in Genuine Parts by 11.6% during the fourth quarter. Pinkerton Retirement Specialists LLC now owns 31,541 shares of the specialty retailer’s stock valued at $3,683,000 after purchasing an additional 3,284 shares in the last quarter. McIlrath & Eck LLC boosted its position in Genuine Parts by 265.0% during the fourth quarter. McIlrath & Eck LLC now owns 376 shares of the specialty retailer’s stock valued at $44,000 after purchasing an additional 273 shares in the last quarter. Kinloch Capital LLC boosted its position in Genuine Parts by 3.2% during the fourth quarter. Kinloch Capital LLC now owns 21,504 shares of the specialty retailer’s stock valued at $2,511,000 after purchasing an additional 671 shares in the last quarter. Finally, Lantern Wealth Advisors LLC bought a new stake in Genuine Parts during the fourth quarter valued at about $213,000. 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.