Genuine Parts (NYSE:GPC) Stock Price Down 4.3% – Should You Sell?

Genuine Parts Company (NYSE:GPC)’s share price traded down 4.3% during trading on Tuesday. The company traded as low as $124.68 and last traded at $124.5640. Approximately 1,064,149 shares changed hands during trading, a decline of 31% from the average daily volume of 1,552,868 shares. The stock had previously closed at $130.18.

Analysts Set New Price Targets

GPC has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, September 21st. Truist Financial raised their price objective on Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Tuesday. The Goldman Sachs Group set a $122.00 target price on Genuine Parts in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $165.00 target price on shares of Genuine Parts in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

Genuine Parts Stock Performance

The firm has a market cap of $17.20 billion, a P/E ratio of 499.11, a P/E/G ratio of 2.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.50 and a current ratio of 1.22. The company’s 50 day moving average is $131.70 and its 200 day moving average is $118.96.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Genuine Parts Company will post 7.69 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.4%. Genuine Parts’s payout ratio is currently 1,700.00%.

Hedge Funds Weigh In On Genuine Parts

A number of institutional investors and hedge funds have recently bought and sold shares of GPC. Root Financial Partners LLC acquired a new stake in shares of Genuine Parts during the third quarter worth $133,000. E. Ohman J or Asset Management AB raised its stake in Genuine Parts by 18.1% during the third quarter. E. Ohman J or Asset Management AB now owns 5,220 shares of the specialty retailer’s stock worth $656,000 after buying an additional 800 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in Genuine Parts by 4.6% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 130,625 shares of the specialty retailer’s stock valued at $16,425,000 after buying an additional 5,722 shares during the period. Axxcess Wealth Management LLC lifted its holdings in Genuine Parts by 121.3% in the third quarter. Axxcess Wealth Management LLC now owns 4,085 shares of the specialty retailer’s stock valued at $514,000 after buying an additional 2,239 shares during the period. Finally, Albion Financial Group UT lifted its holdings in Genuine Parts by 1.0% in the third quarter. Albion Financial Group UT now owns 19,993 shares of the specialty retailer’s stock valued at $2,514,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.