The Gorman-Rupp Company (NYSE:GRC) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its stake in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,192 shares of the industrial products company's stock after buying an additional 23,158 shares during the quarter. Northern Trust Corp owned about 0.85% of Gorman-Rupp worth $8,463,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in Gorman-Rupp in the fourth quarter worth $38,000. Aquatic Capital Management LLC increased its stake in Gorman-Rupp by 46.2% in the fourth 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 during the period. Inceptionr LLC increased its stake in Gorman-Rupp by 9.5% in the fourth quarter. Inceptionr LLC now owns 6,988 shares of the industrial products company's stock worth $265,000 after purchasing an additional 609 shares during the period. Tower Research Capital LLC TRC increased its stake in Gorman-Rupp by 880.1% in the fourth 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 during the period. Finally, Intech Investment Management LLC purchased a new stake in Gorman-Rupp in the fourth quarter worth $344,000. 59.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Gorman-Rupp Trading Down 1.1%

GRC stock traded down $0.39 during midday trading on Friday, reaching $36.12. The company's stock had a trading volume of 69,550 shares, compared to its average volume of 79,576. The firm has a market capitalization of $949.69 million, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. The Gorman-Rupp Company has a 1 year low of $30.87 and a 1 year high of $43.79. The stock has a fifty day simple moving average of $35.49 and a two-hundred day simple moving average of $37.88.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly 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 firm had revenue of $163.95 million for the quarter, compared to analyst estimates of $164.84 million. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. On average, equities research analysts predict that The Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid 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 dividend yield of 2.05%. Gorman-Rupp's dividend payout ratio is currently 43.79%.

Gorman-Rupp Company 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.