Genuine Parts (NYSE:GPC) Hits New 1-Year High – Should You Buy?

Genuine Parts Company (NYSE:GPC) hit a new 52-week high during trading on Monday . The company traded as high as $149.27 and last traded at $146.2610, with a volume of 17535 shares traded. The stock had previously closed at $146.21.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and increased their price target for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their target price on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Evercore ISI reiterated an “outperform” rating and issued a $155.00 price target on shares of Genuine Parts in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.00.

Genuine Parts Price Performance

The business’s 50-day simple moving average is $132.30 and its two-hundred day simple moving average is $133.21. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 25.22 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s dividend payout ratio is presently 70.91%.

Institutional Trading of Genuine Parts

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Genuine Parts by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,533,951 shares of the specialty retailer’s stock worth $2,155,975,000 after buying an additional 167,981 shares during the period. State Street Corp raised its stake in shares of Genuine Parts by 0.9% during the second quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock valued at $953,779,000 after acquiring an additional 73,361 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genuine Parts by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,775,438 shares of the specialty retailer’s stock worth $462,772,000 after purchasing an additional 64,676 shares during the period. Barclays PLC grew its stake in shares of Genuine Parts by 0.6% in the third quarter. Barclays PLC now owns 3,528,297 shares of the specialty retailer’s stock worth $489,022,000 after purchasing an additional 21,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Genuine Parts by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock valued at $373,425,000 after purchasing an additional 70,668 shares during the period. 78.83% of the stock is currently owned by institutional investors.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.