Conning Inc. Sells 32,296 Shares of Genuine Parts Company $GPC

Conning Inc. decreased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,033 shares of the specialty retailer’s stock after selling 32,296 shares during the period. Conning Inc. owned about 0.17% of Genuine Parts worth $32,298,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Revisor Wealth Management LLC grew its holdings in Genuine Parts by 75.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock worth $853,000 after acquiring an additional 2,910 shares during the last quarter. Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the second quarter worth approximately $3,516,000. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $3,165,000 after purchasing an additional 3,659 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of Genuine Parts during the second quarter valued at approximately $3,323,000. Finally, Czech National Bank increased its holdings in shares of Genuine Parts by 6.2% in the second quarter. Czech National Bank now owns 33,925 shares of the specialty retailer’s stock valued at $4,115,000 after purchasing an additional 1,991 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GPC shares. Evercore ISI increased their price objective on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their price target for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Truist Financial boosted their price objective on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, UBS Group upped their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Trading Up 1.4%

NYSE:GPC opened at $133.82 on Thursday. 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 Company has a 1-year low of $104.01 and a 1-year high of $143.48. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 23.03 and a beta of 0.75. The business’s 50-day moving average price is $127.40 and its two-hundred day moving average price is $131.33.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.Genuine Parts’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, equities analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

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.