Genuine Parts (NYSE:GPC) declared a quarterly dividend on Tuesday, February 20th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.72 per share by the specialty retailer on Monday, April 2nd. This represents a $2.88 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.68.
Genuine Parts has increased its dividend payment by an average of 5.8% per year over the last three years and has increased its dividend annually for the last 61 consecutive years. Genuine Parts has a dividend payout ratio of 58.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Genuine Parts to earn $6.13 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 44.0%.
Genuine Parts (GPC) opened at $91.73 on Wednesday. The company has a market capitalization of $13,553.87, a PE ratio of 21.95, a P/E/G ratio of 2.43 and a beta of 1.22. Genuine Parts has a 1-year low of $79.86 and a 1-year high of $107.75. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.74.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada cut their price objective on Genuine Parts to $100.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 21st. Bank of America cut their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a research note on Wednesday, February 21st. Finally, Moffett Nathanson assumed coverage on Genuine Parts in a research note on Monday, December 4th. They set a “sell” rating on the stock. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $97.71.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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