Aurora Private Wealth Inc. Invests $1.26 Million in Gorman-Rupp Company (The) (NYSE:GRC)

Aurora Private Wealth Inc. bought a new position in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 35,942 shares of the industrial products company's stock, valued at approximately $1,262,000. Aurora Private Wealth Inc. owned approximately 0.14% of Gorman-Rupp as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aurora Investment Counsel acquired a new position in Gorman-Rupp in the fourth quarter valued at about $2,083,000. JPMorgan Chase & Co. raised its stake in Gorman-Rupp by 57.3% in the fourth quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company's stock valued at $4,381,000 after purchasing an additional 42,082 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Gorman-Rupp by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 703,077 shares of the industrial products company's stock valued at $26,661,000 after purchasing an additional 38,191 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Gorman-Rupp in the fourth quarter valued at about $1,100,000. Finally, Northern Trust Corp raised its stake in Gorman-Rupp by 11.6% during the fourth quarter. Northern Trust Corp now owns 223,192 shares of the industrial products company's stock worth $8,463,000 after acquiring an additional 23,158 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Trading Down 2.4%

Shares of NYSE:GRC traded down $0.94 during midday trading on Monday, hitting $37.81. 63,604 shares of the stock were exchanged, compared to its average volume of 70,957. The business's 50-day moving average price is $36.95 and its 200 day moving average price is $36.82. Gorman-Rupp Company has a 12 month low of $30.87 and a 12 month high of $43.79. The stock has a market capitalization of $994.02 million, a price-to-earnings ratio of 22.37, a P/E/G ratio of 1.50 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.35 and a current ratio of 2.42.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its earnings results on Thursday, April 24th. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $163.95 million for the quarter, compared to analysts' expectations of $164.84 million. Gorman-Rupp had a return on equity of 13.57% and a net margin of 6.68%. Analysts predict that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, May 15th. Gorman-Rupp's payout ratio is currently 43.79%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th.

Gorman-Rupp 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.