The Gorman-Rupp Company (NYSE:GRC) Shares Sold by Intrust Bank NA

Intrust Bank NA cut its stake in The Gorman-Rupp Company (NYSE:GRC) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,633 shares of the industrial products company’s stock after selling 971 shares during the quarter. Intrust Bank NA owned about 0.06% of Gorman-Rupp worth $593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings 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 valued at $4,381,000 after buying an additional 42,082 shares during the period. Vanguard Group Inc. raised its stake in shares of Gorman-Rupp by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,205,019 shares of the industrial products company’s stock valued at $83,614,000 after purchasing an additional 20,407 shares during the period. LPL Financial LLC lifted its position in shares of Gorman-Rupp by 13.0% during the fourth quarter. LPL Financial LLC now owns 18,608 shares of the industrial products company’s stock worth $706,000 after purchasing an additional 2,146 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Gorman-Rupp in the fourth quarter valued at $660,000. Finally, American Century Companies Inc. grew its holdings in Gorman-Rupp by 10.8% during the 4th quarter. American Century Companies Inc. now owns 42,455 shares of the industrial products company’s stock valued at $1,610,000 after purchasing an additional 4,155 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 25th.

Gorman-Rupp Price Performance

GRC stock opened at $35.34 on Friday. The stock’s 50 day moving average is $37.74 and its two-hundred day moving average is $38.76. The Gorman-Rupp Company has a 52-week low of $30.47 and a 52-week high of $43.79. The company has a market capitalization of $927.00 million, a PE ratio of 23.10, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same quarter last year, the firm earned $0.34 earnings per share. Analysts predict that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is presently 48.37%.

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.