Genuine Parts (GPC) to Issue Quarterly Dividend of $1.03 on April 2nd

Genuine Parts (NYSE:GPC) announced a quarterly dividend on Tuesday, February 18th, RTT News reports. Shareholders of record on Friday, March 7th will be paid a dividend of 1.03 per share by the specialty retailer on Wednesday, April 2nd. This represents a $4.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00.

Genuine Parts has increased its dividend by an average of 7.1% annually over the last three years and has raised its dividend annually for the last 70 consecutive years. Genuine Parts has a dividend payout ratio of 46.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Genuine Parts to earn $8.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 46.3%.

Genuine Parts Price Performance

Shares of GPC opened at $123.77 on Wednesday. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock’s fifty day moving average is $119.21 and its 200-day moving average is $126.29.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the business earned $2.26 earnings per share. Equities analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Truist Financial increased their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.63.

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.