Conning Inc. lessened its stake in shares of Genuine Parts (NYSE:GPC – Get Rating) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 187,558 shares of the specialty retailer’s stock after selling 21,959 shares during the quarter. Conning Inc. owned about 0.13% of Genuine Parts worth $32,490,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth about $25,000. Dupont Capital Management Corp boosted its stake in shares of Genuine Parts by 128.0% during the 3rd quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. BDO Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 113.2% during the 3rd quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Genuine Parts during the 4th quarter worth about $40,000. Finally, Fred Alger Management LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth about $42,000. Institutional investors own 78.14% of the company’s stock.
Insider Buying and Selling at Genuine Parts
In related news, CEO Paul D. Donahue acquired 1,600 shares of the stock in a transaction dated Friday, March 24th. The shares were bought at an average cost of $156.08 per share, for a total transaction of $249,728.00. Following the purchase, the chief executive officer now owns 59,727 shares in the company, valued at approximately $9,322,190.16. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.39% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GPC shares. Truist Financial boosted their price objective on Genuine Parts from $186.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, April 21st. Wedbush reissued a “neutral” rating and set a $165.00 price objective on shares of Genuine Parts in a research report on Friday, April 21st. StockNews.com started coverage on Genuine Parts in a research report on Thursday, March 16th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $163.00 to $164.00 in a research report on Monday. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $158.40.
Genuine Parts Stock Performance
Genuine Parts stock traded up $1.45 during trading hours on Wednesday, hitting $172.41. The stock had a trading volume of 345,499 shares, compared to its average volume of 1,127,869. The company has a 50-day moving average of $166.61 and a two-hundred day moving average of $171.77. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.79. The company has a market cap of $24.23 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.40 and a beta of 0.89. Genuine Parts has a fifty-two week low of $125.55 and a fifty-two week high of $187.73.
Genuine Parts (NYSE:GPC – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The specialty retailer reported $2.14 EPS for the quarter, beating the consensus estimate of $2.03 by $0.11. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Genuine Parts had a return on equity of 32.53% and a net margin of 5.50%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 EPS. On average, equities research analysts anticipate that Genuine Parts will post 9.07 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $3.80 annualized dividend and a yield of 2.20%. Genuine Parts’s dividend payout ratio (DPR) is 43.53%.
Genuine Parts Company Profile
Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.