Genuine Parts Co. (GPC) Reaches New 1-Year High at $105.97
Shares of Genuine Parts Co. (NYSE:GPC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $105.97 and last traded at $105.14, with a volume of 262,038 shares. The stock had previously closed at $105.24.
A number of analysts have recently commented on GPC shares. Sterne Agee CRT cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Monday, April 4th. Zacks Investment Research cut Genuine Parts from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Wedbush reiterated a “neutral” rating and set a $91.00 target price (down previously from $98.00) on shares of Genuine Parts in a research report on Wednesday, April 20th. Finally, Royal Bank Of Canada lifted their target price on Genuine Parts from $90.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 20th. Two 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. The company presently has an average rating of “Hold” and an average target price of $96.00.
The firm’s 50 day moving average price is $98.64 and its 200 day moving average price is $93.37. The firm has a market cap of $15.61 billion and a P/E ratio of 22.53.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, April 19th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The firm earned $3.72 billion during the quarter, compared to analyst estimates of $3.72 billion. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. On average, equities research analysts forecast that Genuine Parts Co. will post $4.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 3rd were given a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Wednesday, June 1st.
Several large investors recently made changes to their positions in GPC. Park National raised its stake in shares of Genuine Parts by 1.7% in the fourth quarter. Park National now owns 244,088 shares of the company’s stock worth $20,965,000 after buying an additional 3,998 shares during the period. Nationwide Fund Advisors raised its stake in shares of Genuine Parts by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 45,682 shares of the company’s stock worth $3,924,000 after buying an additional 638 shares during the period. First Trust Advisors LP raised its stake in shares of Genuine Parts by 23.3% in the fourth quarter. First Trust Advisors LP now owns 231,030 shares of the company’s stock worth $19,843,000 after buying an additional 43,665 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of 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 worth $1,078,000 after buying an additional 1,400 shares during the period. Finally, Hamilton Point Investment Advisors LLC raised its stake in shares of Genuine Parts by 10.6% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 24,349 shares of the company’s stock worth $2,091,000 after buying an additional 2,327 shares during the period.
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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