LPL Financial LLC Boosts Stock Holdings in The Gorman-Rupp Company (NYSE:GRC)

LPL Financial LLC grew its position in The Gorman-Rupp Company (NYSE:GRC) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,608 shares of the industrial products company’s stock after acquiring an additional 2,146 shares during the quarter. LPL Financial LLC owned about 0.07% of Gorman-Rupp worth $706,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Gorman-Rupp in the 4th quarter worth approximately $38,000. Inceptionr LLC lifted its position in Gorman-Rupp by 9.5% during the fourth quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company’s stock worth $265,000 after buying an additional 609 shares in the last quarter. Intech Investment Management LLC acquired a new position in Gorman-Rupp during the fourth quarter worth $344,000. Y Intercept Hong Kong Ltd grew its holdings in Gorman-Rupp by 13.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 9,913 shares of the industrial products company’s stock valued at $376,000 after buying an additional 1,147 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Gorman-Rupp in the 3rd quarter worth $399,000. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Stock Performance

Gorman-Rupp stock opened at $32.97 on Wednesday. The firm has a 50 day simple moving average of $36.05 and a 200-day simple moving average of $38.13. The stock has a market cap of $864.74 million, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The Gorman-Rupp Company has a 1-year low of $30.47 and a 1-year high of $43.79.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. During the same period in the previous year, the business earned $0.34 earnings per share. On average, analysts expect that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.74 annualized dividend and a yield of 2.24%. Gorman-Rupp’s dividend payout ratio (DPR) is currently 48.37%.

Analysts Set New Price Targets

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

About Gorman-Rupp

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.