Gorman-Rupp (NYSE:GRC) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Gorman-Rupp Company (The) (NYSE:GRC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $51.92 and traded as high as $61.92. Gorman-Rupp shares last traded at $60.3410, with a volume of 118,387 shares traded.

Analysts Set New Price Targets

GRC has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Gorman-Rupp from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gorman-Rupp currently has a consensus rating of “Buy”.

Gorman-Rupp Stock Down 1.8%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.39 and a current ratio of 2.37. The stock’s 50 day simple moving average is $61.09 and its 200 day simple moving average is $51.92. The firm has a market cap of $1.59 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 6th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.12. The firm had revenue of $166.57 million during the quarter, compared to analysts’ expectations of $167.08 million. Gorman-Rupp had a net margin of 7.77% and a return on equity of 14.06%. Research analysts anticipate that Gorman-Rupp Company will post 1.98 EPS for the current year.

Gorman-Rupp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. Gorman-Rupp’s dividend payout ratio is 37.81%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its position in Gorman-Rupp by 11.8% in the 2nd quarter. Legal & General Group Plc now owns 263,975 shares of the industrial products company’s stock valued at $9,719,000 after buying an additional 27,856 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Gorman-Rupp in the 3rd quarter worth $4,007,000. Gamco Investors INC. ET AL raised its holdings in shares of Gorman-Rupp by 6.9% in the second quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company’s stock valued at $21,775,000 after purchasing an additional 38,260 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Gorman-Rupp by 3.0% in the second quarter. Geode Capital Management LLC now owns 520,534 shares of the industrial products company’s stock valued at $19,117,000 after purchasing an additional 14,997 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Gorman-Rupp by 2,664,700.0% in the third quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock valued at $12,367,000 after purchasing an additional 266,470 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.