SkyOak Wealth LLC Decreases Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

SkyOak Wealth LLC decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,680 shares of the industrial products company’s stock after selling 250 shares during the period. SkyOak Wealth LLC’s holdings in Franklin Electric were worth $258,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FELE. Private Advisor Group LLC purchased a new stake in Franklin Electric during the fourth quarter valued at $313,000. Principal Securities Inc. purchased a new stake in shares of Franklin Electric during the 4th quarter valued at about $33,000. Dimensional Fund Advisors LP lifted its holdings in shares of Franklin Electric by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,466 shares of the industrial products company’s stock valued at $103,656,000 after acquiring an additional 30,966 shares during the last quarter. Norges Bank purchased a new position in Franklin Electric in the fourth quarter worth about $48,711,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in Franklin Electric by 89.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 6,283 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 2,958 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Jay J. Walsh sold 14,090 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the transaction, the insider now owns 16,927 shares of the company’s stock, valued at $1,770,056.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Gregg C. Sengstack sold 5,396 shares of Franklin Electric stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total transaction of $575,429.44. Following the completion of the sale, the insider now owns 98,093 shares in the company, valued at approximately $10,460,637.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay J. Walsh sold 14,090 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the sale, the insider now directly owns 16,927 shares of the company’s stock, valued at $1,770,056.39. The disclosure for this sale can be found here. Insiders have sold 24,486 shares of company stock valued at $2,568,171 in the last ninety days. 2.72% of the stock is owned by company insiders.

Franklin Electric Trading Up 1.3 %

Shares of FELE stock opened at $101.40 on Thursday. The company has a market cap of $4.67 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $100.36 and its two-hundred day simple moving average is $100.12. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $108.39.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). The company had revenue of $543.30 million for the quarter, compared to analysts’ expectations of $570.80 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. Research analysts predict that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.00 annualized dividend and a yield of 0.99%. Franklin Electric’s payout ratio is 24.88%.

Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.