Northern Trust Corp Acquires 23,158 Shares of The Gorman-Rupp Company (NYSE:GRC)

Northern Trust Corp lifted its holdings in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,192 shares of the industrial products company's stock after buying an additional 23,158 shares during the period. Northern Trust Corp owned about 0.85% of Gorman-Rupp worth $8,463,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Gorman-Rupp during the 4th quarter worth about $38,000. Aquatic Capital Management LLC raised its stake in shares of Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company's stock worth $161,000 after purchasing an additional 1,339 shares in the last quarter. Inceptionr LLC raised its stake in shares of Gorman-Rupp by 9.5% during the 4th quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after purchasing an additional 609 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Gorman-Rupp by 880.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,047 shares of the industrial products company's stock worth $267,000 after purchasing an additional 6,328 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Gorman-Rupp during the 4th quarter worth approximately $344,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock traded down $0.92 during trading on Wednesday, hitting $37.26. 53,307 shares of the stock were exchanged, compared to its average volume of 79,926. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $43.79. The company has a fifty day moving average price of $35.54 and a 200-day moving average price of $37.94. The stock has a market capitalization of $979.58 million, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20.

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, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. As a group, equities analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.74 annualized dividend and a yield of 1.99%. Gorman-Rupp's payout ratio is currently 43.79%.

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.