Conning Inc. Trims Stock Position in Genuine Parts Company (NYSE:GPC)

Conning Inc. decreased its position in Genuine Parts Company (NYSE:GPC - Free Report) by 3.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 278,749 shares of the specialty retailer's stock after selling 9,600 shares during the period. Conning Inc. owned 0.20% of Genuine Parts worth $33,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. Geode Capital Management LLC lifted its holdings in shares of Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after buying an additional 65,783 shares during the period. Invesco Ltd. raised its holdings in shares of Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after acquiring an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Genuine Parts by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after acquiring an additional 145,960 shares in the last quarter. Stifel Financial Corp lifted its stake in Genuine Parts by 21.6% in the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after acquiring an additional 445,259 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after acquiring an additional 104,343 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GPC shares. Truist Financial boosted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Stock Performance

Shares of GPC stock opened at $127.41 on Friday. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The business's fifty day simple moving average is $122.72 and its 200-day simple moving average is $119.98. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The company has a market cap of $17.68 billion, a PE ratio of 20.92 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts's payout ratio is currently 67.65%.

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.

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