Bank of Montreal Can Has $21.59 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Bank of Montreal Can boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,594 shares of the specialty retailer’s stock after purchasing an additional 21,130 shares during the quarter. Bank of Montreal Can owned about 0.11% of Genuine Parts worth $21,591,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Comerica Bank grew its stake in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after acquiring an additional 18,657 shares during the last quarter. Harvest Investment Advisors LLC increased its holdings in shares of Genuine Parts by 1.5% during the 4th quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after purchasing an additional 133 shares during the period. Mezzasalma Advisors LLC raised its position in shares of Genuine Parts by 497.0% during the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after buying an additional 10,019 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Genuine Parts by 137.9% in the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Genuine Parts during the first quarter worth about $3,083,000. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on GPC shares. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group dropped their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Evercore ISI decreased their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Down 0.2 %

Shares of NYSE:GPC opened at $141.21 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The company has a market capitalization of $19.67 billion, a PE ratio of 15.74 and a beta of 0.90. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company’s fifty day moving average is $139.60 and its 200-day moving average is $144.94.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 EPS. Equities research analysts predict that Genuine Parts will post 9.37 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, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Genuine Parts Profile

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.