Pinnacle Wealth Planning Services Inc. Buys 7,294 Shares of The Gorman-Rupp Company (NYSE:GRC)

Pinnacle Wealth Planning Services Inc. raised its holdings in The Gorman-Rupp Company (NYSE:GRC - Free Report) by 81.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,216 shares of the industrial products company's stock after buying an additional 7,294 shares during the quarter. Pinnacle Wealth Planning Services Inc. owned 0.06% of Gorman-Rupp worth $615,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Mechanics Financial Corp boosted its position in Gorman-Rupp by 105.7% in the third 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in Gorman-Rupp by 9.6% during the 4th quarter. Bank of New York Mellon Corp now owns 185,956 shares of the industrial products company's stock valued at $7,051,000 after purchasing an additional 16,334 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Gorman-Rupp by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,153 shares of the industrial products company's stock valued at $6,604,000 after purchasing an additional 1,266 shares in the last quarter. Needham Investment Management LLC raised its position in Gorman-Rupp by 218.8% in 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 purchasing an additional 87,500 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 25,977 shares in the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

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Wall Street Analyst Weigh In

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

Gorman-Rupp Trading Down 1.7 %

NYSE:GRC traded down $0.66 during trading hours on Monday, hitting $37.65. 54,234 shares of the stock were exchanged, compared to its average volume of 81,434. The company has a market capitalization of $987.35 million, a P/E ratio of 24.60, a price-to-earnings-growth 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. The company's 50 day moving average is $37.90 and its two-hundred day moving average is $38.88. The Gorman-Rupp Company has a twelve month low of $30.47 and a twelve month high of $43.79.

Gorman-Rupp (NYSE:GRC - Get Free Report) 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 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 period last year, the business posted $0.34 EPS. On average, sell-side analysts anticipate that The Gorman-Rupp Company will post 1.98 earnings per share for the current fiscal year.

Gorman-Rupp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, February 14th. Gorman-Rupp's dividend payout ratio is 48.37%.

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.