State Street Corp. Amends Passive Stake in Genuine Parts Co.
Ticker: GPC · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 40987
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still holds GPC, showing institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 29, 2024, disclosing its ownership of Genuine Parts Co. common stock as of December 31, 2023. This filing indicates State Street's passive investment in Genuine Parts Co., a wholesale motor vehicle supplies company. This matters to investors because it shows a significant institutional holder maintains its position, potentially signaling confidence in the company's long-term prospects.
Why It Matters
This filing confirms State Street Corporation's continued significant, but passive, investment in Genuine Parts Co., which can be a positive signal for other investors regarding the stock's stability.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or significant changes in company control.
Analyst Insight
Investors should view this as a routine update confirming institutional presence, rather than a signal for immediate buying or selling. It reinforces the idea that Genuine Parts Co. is a stable holding for large institutions.
Key Numbers
- 005-14312 — SEC File Number (identifies Genuine Parts Co.'s registration with the SEC)
- 04-2456637 — IRS Identification No. (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person filing the SC 13G/A
- Genuine Parts Co. (company) — the subject company whose securities are being reported
- 0000093751-24-000314 (dollar_amount) — accession number for the filing
- January 29, 2024 (date) — date the SC 13G/A was filed
- December 31, 2023 (date) — date of event requiring the filing
- 372460105 (dollar_amount) — CUSIP number for Genuine Parts Co. common stock
Forward-Looking Statements
- State Street Corporation will maintain a significant, passive stake in Genuine Parts Co. for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, indicating a passive ownership stake in a company, filed under Rule 13D-1(b) as specified in the filing.
Who is the reporting person in this filing?
The reporting person is State Street Corporation, with an IRS Identification No. of 04-2456637, as stated on page 2 of the filing.
What is the subject company whose securities are being reported?
The subject company is GENUINE PARTS CO, identified by the CUSIP number 372460105 and SEC File Number 005-14312.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as indicated on the cover page.
What is the business address of Genuine Parts Co.?
The business address for Genuine Parts Co. is 2999 WILDWOOD PARKWAY, ATLANTA, GA 30339, as listed in the 'BUSINESS ADDRESS' section of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding GENUINE PARTS CO (GPC).