Genuine Parts (NYSE:GPC) Hits New 52-Week High – Time to Buy?

Genuine Parts Company (NYSE:GPC) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $145.20 and last traded at $143.25, with a volume of 319594 shares. The stock had previously closed at $141.26.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GPC shares. UBS Group lifted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. boosted their price target on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. Truist Financial raised their price objective on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Stock Down 1.3%

The firm has a 50-day moving average of $130.95 and a two-hundred day moving average of $132.78. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of 25.14 and a beta of 0.74. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78.

Genuine Parts Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Genuine Parts by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer’s stock valued at $2,111,000 after acquiring an additional 671 shares during the period. Woodline Partners LP increased its position in shares of Genuine Parts by 40.7% during the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 3,396 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Genuine Parts by 16.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,089 shares of the specialty retailer’s stock valued at $3,165,000 after purchasing an additional 3,659 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Genuine Parts in the second quarter valued at $96,000. Finally, QRG Capital Management Inc. lifted its position in Genuine Parts by 11.5% in the second quarter. QRG Capital Management Inc. now owns 13,787 shares of the specialty retailer’s stock worth $1,673,000 after purchasing an additional 1,419 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 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.