Geode Capital Management LLC Increases Position in Gorman-Rupp Co (GRC)

Share on StockTwits

Geode Capital Management LLC lifted its holdings in Gorman-Rupp Co (NYSE:GRC) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 212,231 shares of the industrial products company’s stock after purchasing an additional 13,218 shares during the period. Geode Capital Management LLC’s holdings in Gorman-Rupp were worth $6,878,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc grew its holdings in shares of Gorman-Rupp by 2.0% in the third quarter. Vanguard Group Inc now owns 1,949,450 shares of the industrial products company’s stock valued at $71,156,000 after purchasing an additional 38,681 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Gorman-Rupp by 2.0% in the third quarter. Vanguard Group Inc. now owns 1,949,450 shares of the industrial products company’s stock valued at $71,156,000 after purchasing an additional 38,681 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Gorman-Rupp by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,725,349 shares of the industrial products company’s stock valued at $55,918,000 after purchasing an additional 8,115 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Gorman-Rupp by 1.9% in the fourth quarter. BlackRock Inc. now owns 1,276,548 shares of the industrial products company’s stock valued at $41,373,000 after purchasing an additional 23,476 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Gorman-Rupp by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 163,621 shares of the industrial products company’s stock valued at $5,973,000 after purchasing an additional 3,815 shares in the last quarter. Hedge funds and other institutional investors own 53.06% of the company’s stock.

In related news, Director Christopher H. Lake sold 2,000 shares of Gorman-Rupp stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $33.07, for a total value of $66,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.40% of the stock is owned by insiders.

Shares of GRC stock opened at $35.47 on Friday. The company has a market capitalization of $932.38 million, a P/E ratio of 20.67 and a beta of 0.96. Gorman-Rupp Co has a fifty-two week low of $29.68 and a fifty-two week high of $38.26.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings data on Friday, February 8th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $100.49 million. Gorman-Rupp had a net margin of 9.65% and a return on equity of 13.69%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share.

ILLEGAL ACTIVITY WARNING: “Geode Capital Management LLC Increases Position in Gorman-Rupp Co (GRC)” was first posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/4303975/geode-capital-management-llc-increases-position-in-gorman-rupp-co-grc.html.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems worldwide. 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.

Read More: What is an SEC Filing?

Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gorman-Rupp Co (NYSE:GRC).

Institutional Ownership by Quarter for Gorman-Rupp (NYSE:GRC)

Receive News & Ratings for Gorman-Rupp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gorman-Rupp and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

SJW Group  Position Cut by Chatham Capital Group Inc.
SJW Group Position Cut by Chatham Capital Group Inc.
Talon Metals  Hits New 52-Week High at $0.16
Talon Metals Hits New 52-Week High at $0.16
Brokerages Set Nutrien Ltd  Price Target at $61.50
Brokerages Set Nutrien Ltd Price Target at $61.50
Bovis Homes Group  Earns Hold Rating from Peel Hunt
Bovis Homes Group Earns Hold Rating from Peel Hunt
Paypoint plc  Declares Dividend of GBX 21
Paypoint plc Declares Dividend of GBX 21
Telefonaktiebolaget LM Ericsson  Upgraded to Buy by Bank of America
Telefonaktiebolaget LM Ericsson Upgraded to Buy by Bank of America


© 2006-2019 Ticker Report