Genuine Parts (NYSE:GPC) Lowered to “Neutral” Rating by Northcoast Research

Northcoast Research lowered shares of Genuine Parts (NYSE:GPC) from a buy rating to a neutral rating in a research report released on Friday, Marketbeat.com reports.

A number of other research analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $118.43 on Friday. The stock has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The business has a 50-day moving average of $120.69 and a two-hundred day moving average of $130.43. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week 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.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the firm posted $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Institutional Trading of Genuine Parts

A number of large investors have recently bought and sold shares of the stock. Quantinno Capital Management LP boosted its stake in shares of Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares in the last quarter. Miramar Capital LLC boosted its position in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 7,845 shares in the last quarter. Conning Inc. boosted its position in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after buying an additional 19,795 shares in the last quarter. WD Rutherford LLC grew its stake in Genuine Parts by 4,265.9% during the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after buying an additional 7,252 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after buying an additional 56,776 shares in the last quarter. 78.83% of the stock is currently owned by 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.