Geode Capital Management LLC Sells 7,046 Shares of The Gorman-Rupp Company (NYSE:GRC)

Geode Capital Management LLC decreased its stake in shares of The Gorman-Rupp Company (NYSE:GRC) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 467,020 shares of the industrial products company’s stock after selling 7,046 shares during the period. Geode Capital Management LLC owned 1.78% of Gorman-Rupp worth $17,714,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Barclays PLC increased its stake in Gorman-Rupp by 317.9% in the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 26,455 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Gorman-Rupp in the 3rd quarter worth approximately $399,000. JPMorgan Chase & Co. raised its holdings in Gorman-Rupp by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company’s stock valued at $2,861,000 after buying an additional 25,977 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Gorman-Rupp by 30.0% during the fourth quarter. SG Americas Securities LLC now owns 14,001 shares of the industrial products company’s stock valued at $531,000 after acquiring an additional 3,234 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Gorman-Rupp by 91.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 11,827 shares during the period. 59.26% of the stock is currently owned by institutional investors.

Gorman-Rupp Stock Performance

Shares of GRC opened at $33.47 on Friday. The business’s 50 day moving average price is $36.26 and its 200-day moving average price is $38.21. The stock has a market cap of $877.75 million, a P/E ratio of 21.87, a P/E/G ratio of 1.54 and a beta of 1.05. The Gorman-Rupp Company has a 52 week low of $30.47 and a 52 week high of $43.79. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same quarter in the previous year, the firm posted $0.34 EPS. Equities research analysts anticipate that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 14th. Gorman-Rupp’s payout ratio is 48.37%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.