The Manufacturers Life Insurance Company Sells 420 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

The Manufacturers Life Insurance Company cut its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,789 shares of the industrial products company’s stock after selling 420 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Franklin Electric worth $2,598,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 107 shares in the last quarter. ORG Partners LLC bought a new stake in Franklin Electric in the second quarter worth approximately $36,000. CWM LLC lifted its stake in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares during the period. USA Financial Formulas bought a new stake in shares of Franklin Electric in the 3rd quarter valued at $74,000. Finally, Signaturefd LLC boosted its stake in Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE opened at $106.57 on Monday. Franklin Electric Co., Inc. has a 52 week low of $90.79 and a 52 week high of $111.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The stock has a 50 day moving average price of $104.93 and a two-hundred day moving average price of $101.21. The firm has a market capitalization of $4.87 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.36 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter in the prior year, the company earned $1.23 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities analysts forecast that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio is presently 25.32%.

Insiders Place Their Bets

In related news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the sale, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

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.