Genuine Parts (NYSE:GPC) Given “Buy” Rating at Truist Financial

Truist Financial reissued their buy rating on shares of Genuine Parts (NYSE:GPC) in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a $167.00 target price on the specialty retailer’s stock.

Other research analysts have also issued research reports about the company. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an in-line rating in a research report on Tuesday, March 26th. StockNews.com raised shares of Genuine Parts from a hold rating to a buy rating in a research note on Friday, April 5th. Finally, Wedbush reissued a neutral rating and issued a $140.00 price objective on shares of Genuine Parts in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $168.89.

Genuine Parts Trading Down 0.4 %

GPC opened at $144.80 on Friday. The firm has a market cap of $20.19 billion, a P/E ratio of 15.52 and a beta of 0.94. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $149.47 and a 200 day moving average of $142.08.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, topping the consensus estimate of $2.20 by $0.06. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share. As a group, research analysts forecast 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. Stockholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is currently 42.87%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Institutional Trading of Genuine Parts

Several institutional investors and hedge funds have recently modified their holdings of GPC. Householder Group Estate & Retirement Specialist LLC bought a new position in Genuine Parts in the third quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Genuine Parts in the third quarter worth approximately $25,000. Assetmark Inc. raised its stake in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Genuine Parts by 122.2% in the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after buying an additional 88 shares in the last quarter. Finally, Briaud Financial Planning Inc bought a new position in Genuine Parts in the third quarter worth approximately $28,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Company Profile

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.