Vanguard Holds 12.6% Stake in Genuine Parts Co.

TL;DR

**Vanguard still owns 12.6% of Genuine Parts Co., showing continued institutional confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, updating its beneficial ownership in Genuine Parts Co. As of December 29, 2023, Vanguard reported owning 17,860,000 shares of Genuine Parts Co. Common Stock, representing 12.6% of the company. This filing indicates Vanguard's continued significant, but passive, stake in the automotive parts distributor, which is important for investors as large institutional holdings can provide a degree of stability and confidence in a stock.

Why It Matters

This filing confirms a major institutional investor's continued confidence in Genuine Parts Co., which can reassure current and potential shareholders about the stock's stability and long-term prospects.

Risk Assessment

Risk Level: low — This filing indicates a stable, passive institutional ownership, which generally reduces volatility and risk for the stock.

Analyst Insight

Investors should note the continued significant institutional ownership by Vanguard, which suggests a degree of stability. This filing doesn't indicate any active changes in strategy, so it primarily serves as a confirmation of existing holdings.

Key Numbers

• 17,860,000 — Shares Beneficially Owned (The number of Genuine Parts Co. shares held by The Vanguard Group.)
• 12.6% — Percentage of Class (The proportion of Genuine Parts Co. common stock owned by The Vanguard Group.)
• 20240213 — Filing Date (The date this SC 13G/A amendment was filed with the SEC.)
• 20231229 — Event Date (The date as of which the ownership change requiring this filing occurred.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Genuine Parts Co. (company) — subject company whose shares are being reported
• 17,860,000 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 12.6% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• The Vanguard Group will maintain a significant, passive stake in Genuine Parts Co. (The Vanguard Group) — high confidence, target: Next 12-24 months
• Genuine Parts Co. will continue to be a stable holding for institutional investors due to its industry position. (Genuine Parts Co.) — medium confidence, target: Next 12-18 months

FAQ

Filing Documents

• tv01008-genuinepartsco.htm (SC 13G/A) — 11KB
• 0001104659-24-021010.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Genuine Parts Co

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 2999 Wildwood Parkway Atlanta, GA 30339

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 372460105

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR