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Paul D. Donahue Buys 1,600 Shares of Genuine Parts (NYSE:GPC) Stock

Defense World · Mar 31, 2023 05:34

Genuine Parts (NYSE:GPC – Get Rating) CEO Paul D. Donahue purchased 1,600 shares of the stock in a transaction on Friday, March 24th. The shares were acquired at an average cost of $156.08 per share, for a total transaction of $249,728.00. Following the transaction, the chief executive officer now owns 59,727 shares of the company's stock, valued at $9,322,190.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Genuine Parts Price Performance

Genuine Parts stock opened at $164.37 on Friday. Genuine Parts has a 12 month low of $124.85 and a 12 month high of $187.73. The stock's 50 day moving average is $168.75 and its 200-day moving average is $169.71. The company has a current ratio of 1.15, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.77 and a beta of 0.90.

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Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.15. The business had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.33 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.35%. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.79 earnings per share. Equities research analysts expect that Genuine Parts will post 8.93 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 3rd will be paid a $0.95 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, March 2nd. Genuine Parts's payout ratio is 45.73%.

Institutional Investors Weigh In On Genuine Parts

Several institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC lifted its stake in Genuine Parts by 5.8% during the third quarter. CVA Family Office LLC now owns 1,007 shares of the specialty retailer's stock worth $150,000 after purchasing an additional 55 shares during the last quarter. Quent Capital LLC lifted its stake in Genuine Parts by 20.7% during the third quarter. Quent Capital LLC now owns 344 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 59 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in Genuine Parts by 0.4% during the fourth quarter. Bahl & Gaynor Inc. now owns 13,652 shares of the specialty retailer's stock worth $2,369,000 after purchasing an additional 59 shares during the last quarter. Forum Financial Management LP lifted its stake in Genuine Parts by 2.5% during the third quarter. Forum Financial Management LP now owns 2,453 shares of the specialty retailer's stock worth $366,000 after purchasing an additional 60 shares during the last quarter. Finally, Buckingham Strategic Wealth LLC lifted its stake in Genuine Parts by 0.7% during the third quarter. Buckingham Strategic Wealth LLC now owns 8,091 shares of the specialty retailer's stock worth $1,208,000 after purchasing an additional 60 shares during the last quarter. 78.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial raised Genuine Parts from a "hold" rating to a "buy" rating and set a $186.00 price target on the stock in a research report on Friday, March 24th. StockNews.com began coverage on Genuine Parts in a research report on Thursday, March 16th. They issued a "buy" rating on the stock. Wedbush reaffirmed a "neutral" rating on shares of Genuine Parts in a research report on Friday, February 24th. Finally, The Goldman Sachs Group upped their target price on Genuine Parts from $147.00 to $157.00 and gave the company a "sell" rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Genuine Parts presently has a consensus rating of "Hold" and a consensus target price of $152.20.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.