Genuine Parts (NYSE:GPC) Stake Trimmed by Bank of Montreal Can

Bank of Montreal Can cut its position in shares of Genuine Parts (NYSE:GPC) by 13.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,979 shares of the specialty retailer’s stock after selling 20,615 shares during the quarter. Bank of Montreal Can owned 0.10% of Genuine Parts worth $18,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wulff Hansen & CO. lifted its position in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Genuine Parts in the third quarter worth $39,474,000. Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after buying an additional 223,712 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.1 %

Genuine Parts stock opened at $126.73 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm’s fifty day simple moving average is $128.43 and its 200-day simple moving average is $136.41. The company has a market capitalization of $17.62 billion, a P/E ratio of 16.32 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. Sell-side analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. Genuine Parts’s payout ratio is currently 51.48%.

Analysts Set New Price Targets

GPC has been the subject of a number of research reports. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $139.57.

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.