The Grooved Pegboard Test (GPT) was conceived as a test of manual dexterity, upper-limb motor speed, and hand–eye coordination. The aim of our study was to test the componential structure of the GPT on an archetypal model of motor impairment, Parkinson’s disease (PD). A total of 45 PD patients (33 males, 12 females; age M = 67, range = 49-81; PD duration M = 10, range = 6-20 years; H/Y stage 2, range = 2-3) and 20 age- and education-matched controls (14 males, 6 females; age M = 66, range = 48-80) were included. All participants were investigated using the GPT, Short Falls Efficacy Scale–International, Frontal Assessment Battery (FAB), Montreal Cognitive Assessment (MoCA), and Non-Motor Symptom Scale. Patients were followed for 6 months, using fall diaries and monthly phone calls to define PD fallers (falls ≥ 1; n = 27) and PD nonfallers (falls = 0; n = 18). Using structural equation modeling, the GPT predicted performance on the MoCA (p < .001), but not on the FAB (p = .29). In conclusion, analysis of the structure of the GPT provided evidence about important cognitive features, in addition to the motor component of this test in PD.