Blue Trust Inc. Boosts Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Blue Trust Inc. lifted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 55.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299 shares of the industrial products company’s stock after purchasing an additional 107 shares during the quarter. Blue Trust Inc.’s holdings in Franklin Electric were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Franklin Electric by 25.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,035 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 807 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Franklin Electric during the first quarter valued at $821,000. Texas Permanent School Fund Corp increased its position in Franklin Electric by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 34,719 shares of the industrial products company’s stock valued at $3,708,000 after acquiring an additional 450 shares during the last quarter. Duality Advisers LP increased its position in Franklin Electric by 1.6% during the first quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock valued at $946,000 after acquiring an additional 137 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Franklin Electric by 2.2% during the first quarter. Illinois Municipal Retirement Fund now owns 22,901 shares of the industrial products company’s stock valued at $2,446,000 after acquiring an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE opened at $97.50 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $101.64 and a two-hundred day simple moving average of $100.11. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.09 and a beta of 0.95. Franklin Electric Co., Inc. has a 52 week low of $85.47 and a 52 week high of $108.39.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The company had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. On average, analysts expect that Franklin Electric Co., Inc. will post 3.84 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday.

Franklin Electric 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.