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

Genuine Parts (NYSE:GPC - Get Free Report) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders 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 2.54%.

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

Genuine Parts Trading Down 2.6 %

Shares of Genuine Parts stock traded down $4.16 on Tuesday, reaching $157.21. 1,558,772 shares of the company were exchanged, compared to its average volume of 1,074,668. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 17.53 and a beta of 0.94. The stock has a fifty day moving average price of $152.49 and a 200-day moving average price of $143.02.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during 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. The business's quarterly revenue was up .3% on a year-over-year basis. On average, analysts expect that Genuine Parts will post 9.89 EPS for the current year.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wedbush reiterated a "neutral" rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a "hold" rating to a "buy" rating in a report on Friday, April 5th. Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 16th. Truist Financial raised their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the company a "hold" rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.