StockNews.com lowered shares of Genuine Parts (NYSE:GPC – Get Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

A number of other analysts have also recently issued reports on the company. Wedbush increased their target price on Genuine Parts from $140.00 to $150.00 in a research note on Thursday, July 28th. Evercore ISI decreased their price target on shares of Genuine Parts to $135.00 in a research note on Thursday, June 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $140.20.

Genuine Parts Price Performance

NYSE GPC opened at $149.13 on Monday. The business has a 50 day simple moving average of $154.40 and a 200 day simple moving average of $140.29. Genuine Parts has a 52-week low of $115.63 and a 52-week high of $164.99. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 1.17. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.90 and a beta of 0.97.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.895 dividend. The ex-dividend date is Thursday, September 1st. This represents a $3.58 annualized dividend and a dividend yield of 2.40%. Genuine Parts's dividend payout ratio is presently 46.37%.

Hedge Funds Weigh In On Genuine Parts

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charter Oak Capital Management LLC bought a new position in shares of Genuine Parts in the second quarter valued at $25,000. Gradient Investments LLC grew its stake in shares of Genuine Parts by 65.8% in the second quarter. Gradient Investments LLC now owns 189 shares of the specialty retailer's stock valued at $25,000 after buying an additional 75 shares in the last quarter. Quent Capital LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at $40,000. Tompkins Financial Corp bought a new position in shares of Genuine Parts in the first quarter valued at $36,000. Finally, Clear Street Markets LLC lifted its holdings in Genuine Parts by 410.3% during the 2nd quarter. Clear Street Markets LLC now owns 296 shares of the specialty retailer's stock valued at $39,000 after purchasing an additional 238 shares during the last quarter. 78.27% of the stock is owned by institutional investors.

About Genuine Parts

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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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