Topic: How To Invest

Dividend Advisor Hotline – Friday, October 25, 2024

Article Excerpt

GENUINE PARTS CO., $114.24, New York symbol GPC, is still a buy for long-term gains. The company has over 10,800 company-owned and independent auto parts stores in North America, Europe, Australia and New Zealand. Most of them operate under the famous NAPA banner. This business accounts for about 60% of Genuine’s total sales. The remaining 40% comes from distributing industrial parts such as bearings, seals, pumps and hoses. With the April 2024, payment, Genuine raised your quarterly dividend by 5.3%. Investors now receive $1.00 a share instead of $0.95. The new annual rate of $4.00 yields 3.5%. The company has increased that payment each year for the past 68 years. The stock fell 20% this week after the company reported lower-than-expected earnings for the latest quarter. It also cut its full-year outlook. Genuine’s sales in the three months ended September 30, 2024, rose 2.5%, to $5.97 billion from $5.82 billion a year earlier. That topped the consensus forecast of $5.94 billion. However, if you…