Analysts Set Genuine Parts Company (NYSE:GPC) PT at $148.00

Shares of Genuine Parts Company (NYSE:GPC) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $154.1429.

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $142.00 in a report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Evercore ISI set a $175.00 price target on shares of Genuine Parts in a report on Wednesday. Finally, Truist Financial raised their price objective on shares of Genuine Parts from $146.00 to $162.00 and gave the stock a “buy” rating in a report on Thursday.

Institutional Trading of Genuine Parts

A number of large investors have recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its position in shares of Genuine Parts by 1.7% during the 4th quarter. Jacobi Capital Management LLC now owns 12,757 shares of the specialty retailer’s stock valued at $1,569,000 after buying an additional 211 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Genuine Parts by 10.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,400 shares of the specialty retailer’s stock worth $295,000 after acquiring an additional 229 shares during the last quarter. Kestra Advisory Services LLC raised its stake in Genuine Parts by 1.8% in the 4th quarter. Kestra Advisory Services LLC now owns 36,055 shares of the specialty retailer’s stock valued at $4,433,000 after acquiring an additional 646 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Genuine Parts by 24.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,802 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 557 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in Genuine Parts by 13.5% during the fourth quarter. Johnson Investment Counsel Inc. now owns 293,970 shares of the specialty retailer’s stock worth $36,147,000 after purchasing an additional 35,013 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock opened at $147.37 on Tuesday. Genuine Parts has a one year low of $104.01 and a one year high of $151.57. The company has a market cap of $20.50 billion, a P/E ratio of 25.36 and a beta of 0.74. The firm has a 50-day moving average of $133.37 and a 200-day moving average of $133.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s payout ratio is 70.91%.

About Genuine Parts

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.