Allspring Global Investments Holdings LLC Has $9.53 Million Position in Genuine Parts Company $GPC

Allspring Global Investments Holdings LLC lessened its stake in Genuine Parts Company (NYSE:GPC) by 57.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,067 shares of the specialty retailer’s stock after selling 104,075 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Genuine Parts worth $9,534,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Inspire Investing LLC raised its holdings in shares of Genuine Parts by 11.9% during the first quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock worth $1,995,000 after acquiring an additional 1,777 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new stake in shares of Genuine Parts during the 1st quarter valued at about $3,344,000. Revisor Wealth Management LLC grew its stake in shares of Genuine Parts by 75.2% in the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after buying an additional 2,910 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Genuine Parts by 11.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer’s stock worth $2,657,000 after buying an additional 2,290 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after acquiring an additional 2,461,497 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GPC. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Evercore ISI upped their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Loop Capital raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $138.86.

Genuine Parts Stock Down 0.4%

GPC stock opened at $133.25 on Friday. 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 50-day moving average of $137.54 and a two-hundred day moving average of $127.83. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

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

Insider Transactions at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction on Friday, September 26th. The shares were 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 directly owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.