Genuine Parts (NYSE:GPC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Genuine Parts (NYSE:GPC) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $141.50.

GPC has been the subject of several recent research reports. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group lowered their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group reduced their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd.

Genuine Parts Stock Up 1.4 %

Shares of NYSE:GPC opened at $117.56 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market cap of $16.35 billion, a P/E ratio of 15.13 and a beta of 0.94. The firm has a fifty day moving average price of $119.23 and a 200 day moving average price of $128.76.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Genuine Parts

Several large investors have recently modified their holdings of GPC. Ashton Thomas Securities LLC purchased a new position in Genuine Parts during the third quarter worth $26,000. Kestra Investment Management LLC purchased a new stake in Genuine Parts during the 4th quarter worth about $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts in the 4th quarter valued at about $29,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the 3rd quarter valued at about $31,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $32,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.