Conning Inc. Sells 13,420 Shares of Genuine Parts Company $GPC

Conning Inc. cut its position in shares of Genuine Parts Company (NYSE:GPC) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 265,329 shares of the specialty retailer’s stock after selling 13,420 shares during the period. Conning Inc. owned about 0.19% of Genuine Parts worth $32,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in shares of Genuine Parts by 3.0% in the 1st quarter. Park Avenue Securities LLC now owns 6,140 shares of the specialty retailer’s stock valued at $732,000 after acquiring an additional 179 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Genuine Parts by 59.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,282 shares of the specialty retailer’s stock valued at $507,000 after acquiring an additional 1,590 shares during the period. GAMMA Investing LLC increased its holdings in shares of Genuine Parts by 70.3% in the 1st quarter. GAMMA Investing LLC now owns 3,998 shares of the specialty retailer’s stock valued at $476,000 after acquiring an additional 1,651 shares during the period. SG Americas Securities LLC increased its holdings in shares of Genuine Parts by 520.1% in the 1st quarter. SG Americas Securities LLC now owns 24,331 shares of the specialty retailer’s stock valued at $2,899,000 after acquiring an additional 20,407 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Genuine Parts by 2.6% in the 1st quarter. Handelsbanken Fonder AB now owns 93,319 shares of the specialty retailer’s stock valued at $11,118,000 after acquiring an additional 2,406 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 0.9%

Shares of GPC stock opened at $130.34 on Friday. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29. The stock’s fifty day moving average price is $137.52 and its 200 day moving average price is $127.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77.

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

Genuine Parts Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. UBS Group lifted their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday. Truist Financial lifted their price target on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Loop Capital boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $138.86.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the sale, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.