Genuine Parts Co. (GPC) Sets New 52-Week High at $105.97
Genuine Parts Co. (NYSE:GPC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $105.97 and last traded at $105.14, with a volume of 262,038 shares trading hands. The stock had previously closed at $105.24.
Several research firms have recently commented on GPC. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Wednesday, April 20th. Royal Bank Of Canada raised their target price on shares of Genuine Parts from $90.00 to $93.00 and gave the company a “sector perform” rating in a report on Wednesday, April 20th. Wedbush reaffirmed a “neutral” rating and issued a $91.00 target price (down previously from $98.00) on shares of Genuine Parts in a report on Wednesday, April 20th. Finally, Sterne Agee CRT reaffirmed a “neutral” rating on shares of Genuine Parts in a report on Monday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Genuine Parts currently has an average rating of “Hold” and an average target price of $96.00.
The company’s 50-day moving average price is $98.04 and its 200 day moving average price is $93.20. The firm has a market cap of $15.78 billion and a price-to-earnings ratio of 22.77.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, April 19th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The business earned $3.72 billion during the quarter, compared to the consensus estimate of $3.72 billion. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. Equities analysts predict that Genuine Parts Co. will post $4.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 3rd were paid a $0.6575 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $2.63 annualized dividend and a dividend yield of 2.50%.
Several hedge funds and institutional investors have added to or reduced their stakes in GPC. Robeco Institutional Asset Management B.V. boosted its position in Genuine Parts by 12.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 12,546 shares of the company’s stock valued at $1,078,000 after buying an additional 1,400 shares during the last quarter. Victory Capital Management Inc. boosted its position in Genuine Parts by 22.0% in the fourth quarter. Victory Capital Management Inc. now owns 12,656 shares of the company’s stock valued at $1,087,000 after buying an additional 2,280 shares during the last quarter. Advantus Capital Management Inc boosted its position in Genuine Parts by 1.3% in the fourth quarter. Advantus Capital Management Inc now owns 14,407 shares of the company’s stock valued at $1,237,000 after buying an additional 179 shares during the last quarter. Girard Partners LTD. boosted its position in Genuine Parts by 23.0% in the fourth quarter. Girard Partners LTD. now owns 14,686 shares of the company’s stock valued at $1,261,000 after buying an additional 2,749 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Genuine Parts during the fourth quarter valued at about $1,612,000.
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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