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

Bank of Montreal Can cut its holdings in shares of Genuine Parts (NYSE:GPCGet Rating) by 0.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 81,599 shares of the specialty retailer’s stock after selling 251 shares during the quarter. Bank of Montreal Can’s holdings in Genuine Parts were worth $11,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GPC. Brown Brothers Harriman & Co. grew its holdings in Genuine Parts by 4.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,044 shares of the specialty retailer’s stock valued at $538,000 after buying an additional 164 shares in the last quarter. Vaughan David Investments LLC IL boosted its stake in shares of Genuine Parts by 2.5% during the second quarter. Vaughan David Investments LLC IL now owns 269,727 shares of the specialty retailer’s stock valued at $35,874,000 after purchasing an additional 6,455 shares during the period. Forsta AP Fonden raised its holdings in shares of Genuine Parts by 222.7% during the second quarter. Forsta AP Fonden now owns 48,400 shares of the specialty retailer’s stock valued at $6,437,000 after acquiring an additional 33,400 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Genuine Parts by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 1,588,315 shares of the specialty retailer’s stock worth $211,247,000 after purchasing an additional 14,068 shares in the last quarter. Finally, CNB Bank raised its holdings in Genuine Parts by 40.4% in the second quarter. CNB Bank now owns 880 shares of the specialty retailer’s stock worth $117,000 after purchasing an additional 253 shares in the last quarter. 78.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the subject of several analyst reports. StockNews.com upgraded Genuine Parts from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 20th. Wedbush lifted their price objective on Genuine Parts from $140.00 to $150.00 in a research note on Thursday, July 28th.

Genuine Parts Trading Down 0.0 %

Shares of NYSE:GPC opened at $183.92 on Thursday. The business’s 50-day moving average is $165.87 and its 200 day moving average is $151.34. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.18 and a quick ratio of 0.60. The firm has a market capitalization of $25.96 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.87 and a beta of 0.99. Genuine Parts has a 1 year low of $115.63 and a 1 year high of $185.00.

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

Genuine Parts Dividend Announcement

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

About Genuine Parts

(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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