Conning Inc. Has $32.30 Million Stake in Genuine Parts Company $GPC

Conning Inc. reduced its holdings in Genuine Parts Company (NYSE:GPC) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,033 shares of the specialty retailer’s stock after selling 32,296 shares during the quarter. Conning Inc.’s holdings in Genuine Parts were worth $32,298,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Genuine Parts by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer’s stock worth $2,111,000 after buying an additional 671 shares during the period. Woodline Partners LP boosted its holdings in shares of Genuine Parts by 40.7% in the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock valued at $1,399,000 after buying an additional 3,396 shares during the period. Parallel Advisors LLC increased its position in shares of Genuine Parts by 47.5% during the second quarter. Parallel Advisors LLC now owns 941 shares of the specialty retailer’s stock worth $114,000 after acquiring an additional 303 shares in the last quarter. Czech National Bank raised its holdings in shares of Genuine Parts by 6.2% during the second quarter. Czech National Bank now owns 33,925 shares of the specialty retailer’s stock worth $4,115,000 after acquiring an additional 1,991 shares during the period. Finally, Berkshire Bank lifted its position in Genuine Parts by 11.7% in the 2nd quarter. Berkshire Bank now owns 2,845 shares of the specialty retailer’s stock valued at $345,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $133.82 on Thursday. The firm has a market capitalization of $18.62 billion, a P/E ratio of 23.03 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average price is $127.40 and its two-hundred day moving average price is $131.33. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $143.48.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, 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 Monday, January 5th. Stockholders of record on Friday, December 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Analysts Set New Price Targets

GPC has been the subject of a number of research reports. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. UBS Group boosted their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Evercore ISI upped their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.