Conning Inc. Reduces Stock Position in Genuine Parts Company $GPC

Conning Inc. decreased its stake in Genuine Parts Company (NYSE:GPC) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 265,329 shares of the specialty retailer’s stock after selling 13,420 shares during the quarter. Conning Inc.’s holdings in Genuine Parts were worth $32,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Trust Co. of Toledo NA OH purchased a new stake in shares of Genuine Parts in the second quarter worth about $84,000. Inspire Investing LLC boosted its stake in shares of Genuine Parts by 1.4% in the second quarter. Inspire Investing LLC now owns 16,975 shares of the specialty retailer’s stock worth $2,059,000 after buying an additional 230 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Genuine Parts by 4.1% in the second quarter. Aberdeen Group plc now owns 85,803 shares of the specialty retailer’s stock worth $10,409,000 after buying an additional 3,417 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Genuine Parts by 10.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 7,844 shares of the specialty retailer’s stock worth $952,000 after buying an additional 736 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Genuine Parts by 20.0% in the second quarter. IFP Advisors Inc now owns 3,762 shares of the specialty retailer’s stock worth $457,000 after buying an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

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

Analysts Set New Price Targets

Several research firms have recently issued reports on GPC. 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 note on Wednesday, October 1st. UBS Group upped their price target on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday. Truist Financial upped their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday. Finally, Loop Capital upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.86.

Genuine Parts Stock Performance

NYSE GPC opened at $130.34 on Friday. The stock has a 50-day moving average of $137.52 and a 200 day moving average of $127.29. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The business’s 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. Sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.2%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Genuine Parts 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.