Bank of Montreal Can Trims Stake in Genuine Parts Company $GPC

Bank of Montreal Can reduced its position in Genuine Parts Company (NYSE:GPC) by 29.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 77,165 shares of the specialty retailer’s stock after selling 31,547 shares during the quarter. Bank of Montreal Can’s holdings in Genuine Parts were worth $9,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Genuine Parts by 4.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer’s stock worth $358,387,000 after buying an additional 119,653 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after buying an additional 498,469 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer’s stock worth $211,816,000 after buying an additional 79,253 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Genuine Parts by 3.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer’s stock valued at $170,073,000 after acquiring an additional 48,139 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $126.73 on Monday. The company has a market cap of $17.63 billion, a P/E ratio of 21.81 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The business has a fifty day moving average of $134.84 and a two-hundred day moving average of $129.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the prior year, the business earned $1.88 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.3%. Genuine Parts’s payout ratio is 70.91%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Loop Capital increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Evercore ISI upped their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Truist Financial lifted their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Finally, UBS Group upped their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.