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

Genuine Parts Company GPC distributes automotive replacement parts, industrial parts and materials.

It will report its Q4 2024 earnings on Feb. 13, 2025. Wall Street analysts expect the company to post an EPS of $1.64, down from $2.26 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $5.71 billion, up from $5.59 billion in the year-ago period.

The 52-week Genuine Parts stock price range was $112.74 to $164.45.

Genuine Parts’ dividend yield is 3.41%. During the last 12 months, it paid $4 per share in dividends.

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The Latest On Genuine Parts

On Oct. 22, the company announced its Q3 2024 earnings, posting an adjusted EPS of $1.88, missing the analyst consensus of $2.42, as reported by Benzinga.

The automotive and industrial replacement parts provider reported third-quarter sales growth of 2.5% year-on-year to $5.97 billion, marginally beating the analyst consensus estimate of $5.94 billion. The company attributed the sales growth to a 3.2% benefit from acquisitions, partially offset by a 0.8% decrease in comparable sales.

Genuine Parts lowered its fiscal 2024 revenue growth outlook to 1%-2% or $23.32 billion-$23.55 billion (prior 1%-3% or $23.32 billion-$23.78 billion) versus $23.48 billion consensus. It lowered the fiscal 2024 adjusted EPS outlook to $8.00-$8.20 (prior $9.30-$9.50), compared to the consensus of $9.36.

The company still expects fiscal 2024 free cash flow of $800 million –$1.0 billion and operating cash flow of $1.3 billion –$1.5 billion.

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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 dividends, your investment value needs to be approximately $35,191, which is 298 shares at $118.16 each. 

Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (3.41% in this case). So, $1,200 / 0.0341 = $35,191 to generate an income of $100 per month.

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

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

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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 298 shares of stock. There may be more upside as investors benefit from the company's consistent dividend hikes. Genuine Parts has raised its dividend consecutively for the last 68 years. 

Check out this article by Benzinga for three more stocks offering high dividend yields. 

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

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