Genuine Parts (NYSE:GPC) Position Increased by Conning Inc.

Conning Inc. lifted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,303 shares of the specialty retailer's stock after acquiring an additional 19,795 shares during the quarter. Conning Inc. owned approximately 0.19% of Genuine Parts worth $36,499,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Concord Wealth Partners lifted its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 119 shares during the period. Manchester Capital Management LLC grew its stake in Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer's stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in Genuine Parts during the 2nd quarter valued at about $40,000. Rosenberg Matthew Hamilton boosted its holdings in Genuine Parts by 92.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer's stock valued at $50,000 after purchasing an additional 178 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GPC. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Finally, UBS Group reduced their target price on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $139.57.

Genuine Parts Trading Down 1.0 %

Genuine Parts stock traded down $1.09 during trading on Friday, reaching $113.61. The company had a trading volume of 1,318,782 shares, compared to its average volume of 1,724,772. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock's 50 day moving average price is $134.72 and its two-hundred day moving average price is $141.08. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 14.62 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 earnings per share. As a group, equities analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, September 6th. Genuine Parts's payout ratio is currently 51.48%.

About Genuine Parts

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.