Genuine Parts (NYSE:GPC) Declares $1.00 Quarterly Dividend

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

Genuine Parts has raised its dividend payment 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 %

Shares of Genuine Parts stock opened at $161.37 on Tuesday. The stock has a market cap of $22.48 billion, a PE ratio of 17.98 and a beta of 0.94. The firm has a fifty day moving average price of $152.49 and a 200 day moving average price 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 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business earned $2.14 earnings per share. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts predict that Genuine Parts will post 9.89 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is 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.