Genuine Parts (NYSE:GPC) PT Lowered to $162.00 at The Goldman Sachs Group

Genuine Parts (NYSE:GPC) had its price target reduced by The Goldman Sachs Group from $166.00 to $162.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently issued reports on the stock. 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 lowered their target price on shares of Genuine Parts from $150.00 to $148.00 and set an in-line rating on the stock in a report on Wednesday. StockNews.com raised shares of Genuine Parts from a hold rating to a buy rating in a report on Wednesday. Wedbush reissued a neutral rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Jefferies Financial Group upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a hold rating in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $161.14.

Genuine Parts Trading Up 3.0 %

NYSE:GPC opened at $142.07 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.59 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.79 billion, a PE ratio of 15.84 and a beta of 0.92. The firm’s 50 day moving average is $140.29 and its 200 day moving average is $146.28. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.44 EPS. Sell-side analysts expect that Genuine Parts will post 9.36 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. Genuine Parts’s payout ratio is currently 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPC. Norges Bank purchased a new position in Genuine Parts in the fourth quarter worth $215,643,000. International Assets Investment Management LLC grew its position in Genuine Parts by 15,175.4% in the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after acquiring an additional 708,388 shares in the last quarter. Stifel Financial Corp grew its position in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after acquiring an additional 431,623 shares in the last quarter. DAVENPORT & Co LLC boosted its position in Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after buying an additional 368,470 shares during the period. Finally, Morningstar Investment Services LLC boosted its position in Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after buying an additional 357,091 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.