Bank of Montreal Can Decreases Holdings in Genuine Parts (NYSE:GPC)

Bank of Montreal Can decreased its position in shares of Genuine Parts (NYSE:GPCGet Rating) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 81,599 shares of the specialty retailer’s stock after selling 251 shares during the period. Bank of Montreal Can’s holdings in Genuine Parts were worth $11,298,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GPC. Mutual of America Capital Management LLC lifted its stake in Genuine Parts by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,019 shares of the specialty retailer’s stock valued at $2,397,000 after buying an additional 199 shares in the last quarter. Metis Global Partners LLC purchased a new stake in Genuine Parts in the 1st quarter valued at approximately $284,000. Arizona State Retirement System lifted its stake in Genuine Parts by 1.7% in the 1st quarter. Arizona State Retirement System now owns 39,644 shares of the specialty retailer’s stock valued at $4,996,000 after buying an additional 652 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Genuine Parts by 39.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 633,835 shares of the specialty retailer’s stock valued at $79,876,000 after buying an additional 178,892 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Genuine Parts by 30.4% in the 1st quarter. Victory Capital Management Inc. now owns 543,207 shares of the specialty retailer’s stock valued at $70,642,000 after buying an additional 126,708 shares in the last quarter. Hedge funds and other institutional investors own 78.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wedbush boosted their price target on Genuine Parts from $140.00 to $150.00 in a report on Thursday, July 28th. StockNews.com upgraded Genuine Parts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 20th.

Genuine Parts Trading Down 0.0 %

GPC stock opened at $183.92 on Thursday. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.87 and a beta of 0.99. The company has a quick ratio of 0.60, a current ratio of 1.18 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $165.87 and a 200-day simple moving average of $151.34. Genuine Parts has a 52 week low of $115.63 and a 52 week high of $185.00.

Genuine Parts (NYSE:GPCGet Rating) last released its quarterly earnings data on Thursday, October 20th. The specialty retailer reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.18. Genuine Parts had a return on equity of 31.91% and a net margin of 5.55%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm posted $1.88 EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts expect that Genuine Parts will post 8.16 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd will be issued a $0.895 dividend. The ex-dividend date is Thursday, December 1st. This represents a $3.58 annualized dividend and a yield of 1.95%. Genuine Parts’s dividend payout ratio is currently 42.98%.

Genuine Parts Profile

(Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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