JPMorgan Chase & Co. Increases Holdings in Gorman-Rupp Company (The) $GRC

Key Points

• JPMorgan Chase & Co. increased its stake in Gorman‑Rupp by 43.2% in Q3 to 67,990 shares (about $3.16 million), representing roughly 0.26% of the company.
• Analyst sentiment has turned positive—Wall Street Zen upgraded GRC to a Buy, and the stock’s consensus rating on MarketBeat is currently Buy.
• Gorman‑Rupp recently beat quarterly EPS estimates ($0.55 vs. $0.43), reported roughly in‑line revenue, and pays a quarterly dividend of $0.19 (annualized yield ~1.2%).

JPMorgan Chase & Co. increased its position in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 43.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,990 shares of the industrial products company's stock after purchasing an additional 20,522 shares during the quarter. JPMorgan Chase & Co. owned 0.26% of Gorman-Rupp worth $3,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in Gorman-Rupp by 125.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 939 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Gorman-Rupp in the third quarter worth $65,000. CWM LLC raised its holdings in shares of Gorman-Rupp by 47.0% during the third quarter. CWM LLC now owns 1,452 shares of the industrial products company's stock worth $67,000 after purchasing an additional 464 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Gorman-Rupp by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 1,180 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Gorman-Rupp in the third quarter valued at $108,000. Institutional investors and hedge funds own 59.26% of the company's stock.

Analysts Set New Price Targets

GRC has been the topic of several analyst reports. Wall Street Zen raised Gorman-Rupp from a "hold" rating to a "buy" rating in a research report on Saturday, December 6th. Weiss Ratings restated a "buy (b)" rating on shares of Gorman-Rupp in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy".

Gorman-Rupp Stock Performance

GRC opened at $62.54 on Friday. The firm has a fifty day moving average price of $61.89 and a 200 day moving average price of $52.41. Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $68.02. The stock has a market cap of $1.65 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.37 and a quick ratio of 1.39.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. The company had revenue of $166.57 million for the quarter, compared to analyst estimates of $167.08 million. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. Equities research analysts anticipate that Gorman-Rupp Company will post 1.98 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 13th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, February 13th. Gorman-Rupp's payout ratio is currently 37.81%.

Gorman-Rupp Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.

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