Genuine Parts (NYSE:GPC) Announces Quarterly Dividend of $1.00

Genuine Parts (NYSE:GPC) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders of record on Friday, June 7th will be given a dividend of 1.00 per share by the specialty retailer on Monday, July 1st. This represents a $4.00 annualized dividend and a dividend yield of 2.48%.

Genuine Parts has raised its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 68 years.

Genuine Parts Trading Up 0.9 %

NYSE GPC opened at $161.37 on Tuesday. The stock has a market capitalization of $22.48 billion, a P/E ratio of 17.98 and a beta of 0.94. The business has a 50 day simple moving average of $152.49 and a 200 day simple moving average of $143.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a one year low of $126.35 and a one year high of $174.91.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. Genuine Parts’s revenue was up .3% on a year-over-year basis. Research analysts expect that Genuine Parts will post 9.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on GPC shares. Truist Financial increased their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI lowered their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Company 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.