JPMorgan Chase & Co. Has $2.86 Million Stock Position in The Gorman-Rupp Company (NYSE:GRC)

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

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Gorman-Rupp by 5,461.5% in the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after buying an additional 710 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Gorman-Rupp in the 3rd quarter valued at approximately $29,000. nVerses Capital LLC bought a new position in Gorman-Rupp during the 3rd quarter worth approximately $31,000. Copeland Capital Management LLC acquired a new position in Gorman-Rupp during the third quarter valued at approximately $58,000. Finally, Point72 Asset Management L.P. bought a new stake in Gorman-Rupp in the third quarter valued at approximately $62,000. Institutional investors own 59.26% of the company’s stock.

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 Friday, November 29th.

Gorman-Rupp Stock Up 0.4 %

Shares of Gorman-Rupp stock opened at $37.57 on Tuesday. The Gorman-Rupp Company has a 1 year low of $30.47 and a 1 year high of $43.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. The company has a market capitalization of $985.33 million, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. The business has a 50-day moving average of $39.86 and a two-hundred day moving average of $39.06.

Gorman-Rupp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.185 per share. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, November 15th. Gorman-Rupp’s dividend payout ratio (DPR) 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.