Johnson Investment Counsel Inc. Sells 8,600 Shares of The Gorman-Rupp Company (NYSE:GRC)

Johnson Investment Counsel Inc. reduced its stake in The Gorman-Rupp Company (NYSE:GRC) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,415 shares of the industrial products company’s stock after selling 8,600 shares during the quarter. Johnson Investment Counsel Inc. owned approximately 0.18% of Gorman-Rupp worth $1,836,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its holdings in Gorman-Rupp by 317.9% in the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company’s stock worth $1,355,000 after purchasing an additional 26,455 shares during the period. Farther Finance Advisors LLC raised its holdings in Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares during the period. Janney Montgomery Scott LLC raised its holdings in 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 worth $937,000 after purchasing an additional 11,827 shares during the period. Walleye Capital LLC bought a new position in Gorman-Rupp in the 3rd quarter worth $595,000. Finally, Mechanics Financial Corp raised its holdings in Gorman-Rupp by 105.7% in the 3rd quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company’s stock worth $39,450,000 after purchasing an additional 520,361 shares during the period. 59.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th.

Gorman-Rupp Trading Up 0.6 %

Shares of GRC stock opened at $37.75 on Wednesday. The Gorman-Rupp Company has a 52-week low of $30.47 and a 52-week high of $43.79. 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 firm has a market capitalization of $990.11 million, a PE ratio of 24.67, a PEG ratio of 1.54 and a beta of 0.94. The stock has a fifty day simple moving average of $37.89 and a two-hundred day simple moving average of $38.87.

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

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $0.185 per share. The ex-dividend date was Friday, February 14th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.96%. Gorman-Rupp’s payout ratio is 48.37%.

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.