Research analysts at Sidoti began coverage on shares of Gorman-Rupp Co. (NYSEMKT:GRC) in a research report issued to clients and investors on Tuesday. The brokerage set a “neutral” rating on the stock.

Several other equities analysts also recently issued reports on the stock. TheStreet downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Zacks Investment Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a report on Monday, August 1st. Seven analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.88.

Shares of Gorman-Rupp (NYSEMKT:GRC) traded up 0.62% during trading on Tuesday, reaching $25.93. 7,779 shares of the company traded hands. Gorman-Rupp has a 52 week low of $21.09 and a 52 week high of $32.60. The stock has a market capitalization of $676.54 million, a PE ratio of 28.06 and a beta of 1.13. The firm has a 50 day moving average of $26.87 and a 200 day moving average of $27.36.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at

Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $96.30 million for the quarter, compared to analysts’ expectations of $97.70 million. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts predict that Gorman-Rupp will post $0.95 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were paid a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of Infinity. The ex-dividend date of this dividend was Thursday, August 11th. Gorman-Rupp’s dividend payout ratio is currently 45.65%.

In related news, Director W Wayne Walston sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $27.31, for a total transaction of $54,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth R. Reynolds acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were purchased at an average price of $27.00 per share, with a total value of $67,500.00. The disclosure for this purchase can be found here.

A number of large investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its stake in Gorman-Rupp by 7,787.1% in the first quarter. Mondrian Investment Partners LTD now owns 84,234 shares of the company’s stock valued at $2,184,000 after buying an additional 83,166 shares during the last quarter. Zacks Investment Management purchased a new stake in Gorman-Rupp during the second quarter valued at about $981,000. Spark Investment Management LLC purchased a new stake in Gorman-Rupp during the first quarter valued at about $417,000. Guggenheim Capital LLC boosted its stake in Gorman-Rupp by 31.7% in the second quarter. Guggenheim Capital LLC now owns 56,902 shares of the company’s stock valued at $1,561,000 after buying an additional 13,686 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock valued at $639,000 after buying an additional 11,916 shares during the last quarter.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.

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