I am recommending purchase of auto and industrial replacement parts distributor Genuine Parts (GPC).

In a market where economic and political uncertainties are on the rise, I believe GPC is an excellent choice given its long-term earnings stability, with 63 consecutive years of dividend increases. Trading at 16.8X this year’s earnings with a 3.2% dividend yield, the stock sells at a discount to other “safe” plays like utilities and consumer staple stocks, and the shares could be a big performer if recent growth initiatives put into place by management work out.

I will have more in tomorrow’s October issue, but for now buy GPC under $100. My target is $110.