The Gorman-Rupp Company (NYSE:GRC) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of The Gorman-Rupp Company (NYSE:GRC - Free Report) by 35.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 107,527 shares of the industrial products company's stock after selling 57,877 shares during the quarter. Invesco Ltd. owned about 0.41% of Gorman-Rupp worth $4,077,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Barclays PLC boosted its position in Gorman-Rupp by 317.9% during the third quarter. Barclays PLC now owns 34,777 shares of the industrial products company's stock worth $1,355,000 after acquiring an additional 26,455 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Gorman-Rupp during the 3rd quarter valued at about $399,000. JPMorgan Chase & Co. boosted its position in shares of Gorman-Rupp by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 73,454 shares of the industrial products company's stock worth $2,861,000 after acquiring an additional 25,977 shares during the last quarter. SG Americas Securities LLC increased its position in Gorman-Rupp by 30.0% during the fourth quarter. SG Americas Securities LLC now owns 14,001 shares of the industrial products company's stock worth $531,000 after purchasing an additional 3,234 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Gorman-Rupp by 91.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 24,711 shares of the industrial products company's stock valued at $937,000 after purchasing an additional 11,827 shares during the last quarter. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Trading Up 2.1 %

GRC stock traded up $0.75 during midday trading on Friday, reaching $36.64. 11,142 shares of the company's stock traded hands, compared to its average volume of 82,097. The Gorman-Rupp Company has a fifty-two week low of $30.87 and a fifty-two week high of $43.79. The business has a 50-day moving average price of $35.55 and a two-hundred day moving average price of $37.97. The company has a market capitalization of $960.86 million, a P/E ratio of 23.96, a PEG ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $163.95 million during the quarter, compared to the consensus estimate of $164.84 million. Gorman-Rupp had a return on equity of 12.79% and a net margin of 6.08%. Equities research analysts forecast that The Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 15th. Gorman-Rupp's dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report 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.