JPMorgan Chase & Co. Purchases 25,977 Shares of The Gorman-Rupp Company (NYSE:GRC)

JPMorgan Chase & Co. raised its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 54.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,454 shares of the industrial products company's stock after purchasing an additional 25,977 shares during the quarter. JPMorgan Chase & Co. owned 0.28% of Gorman-Rupp worth $2,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Mechanics Financial Corp lifted its position in shares of Gorman-Rupp by 105.7% during the 3rd quarter. Mechanics Financial Corp now owns 1,012,825 shares of the industrial products company's stock valued at $39,450,000 after buying an additional 520,361 shares during the last quarter. Needham Investment Management LLC lifted its position in shares of Gorman-Rupp by 218.8% during the 3rd quarter. Needham Investment Management LLC now owns 127,500 shares of the industrial products company's stock valued at $4,966,000 after buying an additional 87,500 shares during the last quarter. Barclays PLC lifted its position in shares of Gorman-Rupp by 317.9% during the 3rd quarter. Barclays PLC now owns 34,777 shares of the industrial products company's stock valued at $1,355,000 after buying an additional 26,455 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Gorman-Rupp by 44.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company's stock valued at $3,107,000 after buying an additional 24,683 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Gorman-Rupp by 20.7% during the 2nd quarter. Renaissance Technologies LLC now owns 120,789 shares of the industrial products company's stock valued at $4,434,000 after buying an additional 20,689 shares during the last quarter. Institutional investors own 59.26% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a report on Friday, November 29th.

Gorman-Rupp Price Performance

GRC traded up $0.95 during trading on Tuesday, reaching $38.59. 72,786 shares of the company were exchanged, compared to its average volume of 52,691. The company's 50-day moving average is $39.80 and its two-hundred day moving average is $39.07. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.46 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. The Gorman-Rupp Company has a 12-month low of $30.47 and a 12-month high of $43.79.

Gorman-Rupp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a dividend of $0.185 per share. This is a boost from Gorman-Rupp's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.74 dividend on an annualized basis and a yield of 1.92%. Gorman-Rupp's dividend payout ratio is 51.03%.

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.