5 Long-Term Stocks to Buy According to Billionaire Mario Gabelli

4. Genuine Parts Company (NYSE:GPC)

Number of Hedge Fund Holders: 32

Genuine Parts Company (NYSE:GPC) supplies automotive replacement parts, industrial parts, and materials. The company is one of the long-term stocks to buy according to billionaire Mario Gabelli. Securities filings show that GAMCO Investors owned 726,255 shares of Genuine Parts Company (NYSE:GPC) at the end of June 2022 worth $96 million, representing a small portion of the portfolio. 

On July 28, Wedbush analyst Seth Basham maintained a Neutral rating on Genuine Parts Company (NYSE:GPC) stock and raised the price target to $150 from $140, appreciating the second quarter earnings beat of the firm. 

At the end of the second quarter of 2022, 32 hedge funds in the database of Insider Monkey held stakes worth $406 million in Genuine Parts Company (NYSE:GPC), compared to 29 in the preceding quarter worth $457 million.