Conning Inc. Has $33.67 Million Stock Position in Genuine Parts (NYSE:GPC)

Conning Inc. grew its position in shares of Genuine Parts (NYSE:GPC) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 288,349 shares of the specialty retailer’s stock after acquiring an additional 27,046 shares during the quarter. Conning Inc. owned 0.21% of Genuine Parts worth $33,668,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $32,000. Concord Wealth Partners boosted its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.2 %

GPC opened at $117.77 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market capitalization of $16.37 billion, a P/E ratio of 15.16 and a beta of 0.94. The stock has a fifty day moving average of $118.70 and a 200-day moving average of $128.47.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GPC. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $141.50.

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.