Allspring Global Investments Holdings LLC Sells 104,075 Shares of Genuine Parts Company $GPC

Allspring Global Investments Holdings LLC lessened its position in shares of Genuine Parts Company (NYSE:GPC) by 57.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,067 shares of the specialty retailer’s stock after selling 104,075 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Genuine Parts were worth $9,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GPC. Rossby Financial LCC bought a new stake in Genuine Parts in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in Genuine Parts in the first quarter valued at about $27,000. North Capital Inc. acquired a new position in Genuine Parts in the first quarter worth about $28,000. Golden State Wealth Management LLC lifted its stake in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 318 shares during the period. Finally, Cromwell Holdings LLC boosted its holdings in Genuine Parts by 49.1% during the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Genuine Parts stock opened at $133.25 on Friday. The stock has a 50-day simple moving average of $137.54 and a 200 day simple moving average of $127.83. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 22.93 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the company posted $2.44 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Loop Capital upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Evercore ISI increased their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, UBS Group boosted their price target 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 analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.86.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, the executive vice president directly owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.