BlackRock Trims Gorman Rupp Stake to 5.0%
Ticker: GRC · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 42682
| Field | Detail |
|---|---|
| Company | Gorman Rupp CO (GRC) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, stake-change
TL;DR
**BlackRock cut its Gorman Rupp stake to 5.0%, watch for other institutional moves.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 29, 2024, indicating its ownership in Gorman Rupp Co. BlackRock now beneficially owns 1,323,078 shares of Common Stock, representing 5.0% of the company, as of December 31, 2023. This is a decrease from their previous reported ownership, signaling a slight reduction in their stake. This matters to investors because a major institutional investor like BlackRock reducing its position, even slightly, could suggest a shift in their outlook on Gorman Rupp Co.'s future performance or valuation.
Why It Matters
This filing shows BlackRock, a major institutional investor, has slightly reduced its ownership in Gorman Rupp Co., which could be interpreted as a minor loss of confidence or a portfolio rebalancing.
Risk Assessment
Risk Level: low — A 5.0% ownership stake by BlackRock is still significant, and the reduction is not drastic enough to signal immediate high risk.
Analyst Insight
Investors should monitor future institutional filings (13F, 13G/A) for Gorman Rupp Co. to see if other major holders are also adjusting their positions, which could indicate a broader sentiment shift.
Key Numbers
- 1,323,078 — Shares Owned (BlackRock's beneficial ownership in Gorman Rupp Co. as of December 31, 2023.)
- 5.0% — Percentage of Class (The percentage of Gorman Rupp Co. Common Stock beneficially owned by BlackRock.)
- December 31, 2023 — Reporting Date (The date for which the ownership information is reported, indicating the snapshot of BlackRock's holdings.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Gorman Rupp Co. (company) — the subject company whose securities are being reported
- 1,323,078 (dollar_amount) — number of shares beneficially owned by BlackRock
- 5.0% (dollar_amount) — percentage of class beneficially owned by BlackRock
- December 31, 2023 (date) — date of the event requiring the filing
- January 29, 2024 (date) — date the SC 13G/A amendment was filed
Forward-Looking Statements
- Other institutional investors may also adjust their positions in Gorman Rupp Co. in the near future. (Gorman Rupp Co.) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock, Inc.?
This SC 13G/A filing is an amendment (Amendment No: 4) to a Schedule 13G, indicating a change in BlackRock, Inc.'s beneficial ownership of Common Stock in Gorman Rupp Co. as of December 31, 2023.
How many shares of Gorman Rupp Co. Common Stock does BlackRock, Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock, Inc. beneficially owns 1,323,078 shares of Gorman Rupp Co. Common Stock.
What percentage of Gorman Rupp Co.'s Common Stock does BlackRock, Inc. now own?
BlackRock, Inc. now beneficially owns 5.0% of the Common Stock of Gorman Rupp Co., as stated in the filing.
When was the event that triggered this filing, and when was the filing submitted?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, and the filing was submitted on January 29, 2024.
Under which rule of the Securities Exchange Act of 1934 is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding GORMAN RUPP CO (GRC).