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Genuine Parts Company (NYSE:GPC) is included among the Best Dividend Stocks for the Best Retirement Portfolio.
Genuine Parts Company (NYSE:GPC) operates a global network of stores and distribution centers that supply replacement parts for the automotive, industrial, and office equipment markets.
On October 21, Truist Securities raised its price target on Genuine Parts Company (NYSE:GPC) shares from $143 to $146 while maintaining a Buy rating after the company reported its third-quarter results. The firm highlighted the first positive comparable sales in eight quarters for the US Auto segment, which grew 2.2%, supported by roughly 2.5% same-SKU inflation.
The Industrial division also showed encouraging signs, posting its first positive comparable sales in six quarters despite the broader manufacturing slowdown, reflected by a Purchasing Managers’ Index (PMI) below 50.
Truist describes the Industrial business as “a coiled spring” poised to deliver meaningful leverage once industrial activity rebounds. Meanwhile, the Auto division is expected to sustain steady gains through continued operational improvements and modest price inflation.
The firm’s optimism also stems from activist investor Elliott Management’s involvement, which could pave the way for a potential separation of Genuine Parts Company (NYSE:GPC)’s key business segments to unlock further value.
In addition, Genuine Parts Company (NYSE:GPC) continues to attract income-focused investors with its reliable and appealing dividend. The company has been rewarding shareholders with growing dividends for the past 69 years.
While we acknowledge the potential of GPC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Beaten Down Dividend Stocks to Buy Right Now and 11 High-Yield Dividend Stocks for Steady Cash Flow.
Disclosure: None.
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