HighTower Advisors LLC Has $539,000 Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

HighTower Advisors LLC lifted its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,165 shares of the industrial products company’s stock after purchasing an additional 241 shares during the period. HighTower Advisors LLC’s holdings in Franklin Electric were worth $539,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of FELE. F M Investments LLC acquired a new position in shares of Franklin Electric during the 2nd quarter valued at $9,158,000. KBC Group NV raised its holdings in shares of Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after purchasing an additional 63,436 shares during the last quarter. Edgestream Partners L.P. lifted its position in shares of Franklin Electric by 328.4% during the 2nd quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock worth $6,206,000 after buying an additional 49,391 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Franklin Electric by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after acquiring an additional 40,248 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in Franklin Electric by 2.6% during the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after purchasing an additional 39,478 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

FELE stock opened at $98.37 on Friday. The firm has a 50 day moving average of $104.88 and a 200-day moving average of $101.59. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 12 month low of $91.45 and a 12 month high of $111.94. The firm has a market capitalization of $4.49 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 2.35 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The business had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Franklin Electric’s dividend payout ratio is presently 25.32%.

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.