How To Put $100 In Your Retirement Fund Each Month With Genuine Parts Stock

Genuine Parts Company GPC sells aftermarket automotive parts (about 60% of sales) and industrial products (40% of sales) in the United States and internationally.

It will report its Q3 2024 earnings on Oct. 17, 2024. Wall Street analysts expect the company to post an EPS of $2.44, down from $2.49 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $5.96 billion, up from $5.82 billion in the year-ago period.

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The 52-week range of Genuine Parts stock price was $126.35 to $164.45.

The stock dividend yield for Genuine Parts is 2.80%. It paid $3.99 per share in dividends during the last 12 months.

The Latest On Genuine Parts

On July 23, 2024, Genuine Parts reported its Q2 2024 earnings, posting worse-than-expected quarterly earnings and a grim outlook. The company reported second-quarter sales growth of 0.8% year-on-year to $5.963 billion, missing the analyst consensus estimate of $6.047 billion, as reported by Benzinga.

The company attributed the sales growth to a 2.2% benefit from acquisitions, partially offset by a 0.9% decrease in comparable sales.

Adjusted EPS of $2.44 missed the analyst consensus of $2.59.

"Our quarterly results reflect softer than expected market conditions, which are tempering demand particularly in our Industrial and U.S. and European Automotive businesses. Despite a challenging macro-environment, our teams are operating well and remain focused on executing our long-term strategic initiatives," said President and CEO Will Stengel.

Genuine Parts lowered FY24 revenue growth outlook from 3%-5% to 1%-3%. It lowered FY24 adjusted EPS outlook from $9.80- $9.95 to $9.30-$9.50 versus the consensus of $9.86.

Following the earnings report, several Wall Street analysts cut their price targets on the stock. This piece by Benzinga decodes 5 recent analyst evaluations for Genuine Parts.

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How Can You Earn $100 Per Month As A Genuine Parts Investor?

If you want to make $100 per month — $1,200 annually — from Genuine Parts stock dividends, your investment value needs to be approximately $42,857, which is around 301 shares at $142.40 each. 

Understanding dividend yield calculations: When making an estimate, you need two key variables — the desired annual income ($1,200) and the dividend yield (2.80% in this case). So, $1,200 / 0.028 = $42,857 to generate an income of $100 per month.

You can calculate the dividend yield by dividing the annual dividend payments by the current price of the stock.

The dividend yield can change over time because of fluctuating stock prices and dividend payments on a rolling basis.

For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).

In summary, income-focused investors may find Genuine Parts stock an attractive option for making a steady income of $100 per month by owning 301 shares of stock. There may be more upside to come as investors benefit from the company's consistent dividend hikes. Genuine Parts has raised its dividend consecutively for the last 68 years. 

Are You Missing Out On Higher Yields?

The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks… Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider. 

For example, the Jeff Bezos-backed investment platform just launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. The best part? Unlike other private credit funds, this one has a minimum investment of only $100. 

Looking for fractional real estate investment opportunities? The Benzinga Real Estate Screener features the latest offerings.