Genuine Parts (NYSE:GPC) Given New $135.00 Price Target at JPMorgan Chase & Co.

Genuine Parts (NYSE:GPC) had its target price trimmed by JPMorgan Chase & Co. from $162.00 to $135.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the specialty retailer’s stock.

Several other equities research analysts have also weighed in on GPC. The Goldman Sachs Group lowered their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Evercore ISI lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday. Wedbush reduced their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Performance

GPC opened at $113.11 on Tuesday. The stock’s 50 day simple moving average is $137.72 and its 200-day simple moving average is $142.43. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a market cap of $15.76 billion, a PE ratio of 12.61 and a beta of 0.90. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the company posted $2.49 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.54%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GPC. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the first quarter worth $26,000. Thompson Investment Management Inc. bought a new stake in Genuine Parts during the 1st quarter worth about $35,000. Stephens Consulting LLC lifted its position in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC boosted its stake in shares of Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. Finally, Concord Wealth Partners grew its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds 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.