Good pick for a COVID recovery

Article Excerpt

GENUINE PARTS CO. $85 is a buy. Through your shares (New York symbol GPC; Income-Growth Payer Portfolio, Manufacturing & Industry sector; Shares o/s: 145.9 million; Market cap: $12.4 billion; Dividend yield: 3.7%; Dividend Sustainability Rating: Above Average; www.genpt.com) you tap this leading seller of replacement auto parts. It also distributes industrial parts, office products and electrical equipment. With the April 2020 payment, Genuine raised your quarterly dividend by 3.6%. The new annual rate of $3.16 yields 3.7%. The stock fell roughly 50% to $50 in March 2020, but has now recovered most of that drop. We feel Genuine will continue to rebound, as COVID-19 prompts more people to put off buying new cars. That should spur demand for replacement parts. Genuine Parts is a buy. buy…

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