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) during the 1st quarter, according to its most recent disclosure 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 0.14% of Gorman-Rupp at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GRC. Aurora Investment Counsel bought a new position in shares of Gorman-Rupp during the fourth quarter worth approximately $2,083,000. JPMorgan Chase & Co. boosted its position in shares of Gorman-Rupp by 57.3% during the 4th quarter. JPMorgan Chase & Co. now owns 115,536 shares of the industrial products company's stock worth $4,381,000 after acquiring an additional 42,082 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gorman-Rupp by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 703,077 shares of the industrial products company's stock worth $26,661,000 after acquiring an additional 38,191 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Gorman-Rupp during the 4th quarter worth approximately $1,100,000. Finally, Northern Trust Corp boosted its position in shares of Gorman-Rupp by 11.6% during the 4th 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. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Stock Performance

NYSE GRC opened at $36.31 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $954.67 million, a price-to-earnings ratio of 21.49, a P/E/G ratio of 1.41 and a beta of 1.19. The firm's 50 day simple moving average is $36.38 and its 200 day simple moving average is $37.03. Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79.

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

Gorman-Rupp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a $0.185 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.74 dividend on an annualized basis and a yield of 2.04%. Gorman-Rupp's dividend payout ratio is currently 43.79%.

Analyst Upgrades and Downgrades

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

Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gorman-Rupp Company (The) (NYSE:GRC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.