Genuine Parts (NYSE:GPC) Plans Quarterly Dividend of $1.03

Genuine Parts (NYSE:GPC - Get Free Report) declared a quarterly dividend on Tuesday, February 18th, RTT News reports. Investors 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 yield of 3.39%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts's previous quarterly dividend of $1.00.

Genuine Parts has raised its dividend by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 70 years. Genuine Parts has a dividend payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Genuine Parts to earn $8.91 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 46.2%.

Genuine Parts Stock Performance

GPC stock traded down $1.59 during trading on Friday, hitting $121.68. 1,466,225 shares of the company traded hands, compared to its average volume of 1,617,412. The stock's 50-day simple moving average is $118.29 and its 200 day simple moving average is $127.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company has a market cap of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period last year, the business earned $2.26 earnings per share. On average, equities analysts expect that Genuine Parts will post 7.91 earnings per share for the current fiscal 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 stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company's stock.

Analyst Ratings Changes

GPC has been the topic of several research analyst reports. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a report on Wednesday. Finally, Redburn Atlantic raised Genuine Parts to a "hold" rating in a report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of "Hold" and a consensus price target 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.