Franklin Resources Inc. Raises Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Franklin Resources Inc. increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,111 shares of the industrial products company’s stock after buying an additional 914 shares during the period. Franklin Resources Inc.’s holdings in Franklin Electric were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FELE. CWM LLC grew 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 purchasing an additional 98 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Franklin Electric by 15.6% in the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after buying an additional 103 shares in the last quarter. Blue Trust Inc. grew 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 buying an additional 107 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after acquiring an additional 109 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in Franklin Electric by 2.6% during the third quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock valued at $634,000 after acquiring an additional 156 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Performance

FELE opened at $97.95 on Friday. The firm has a fifty day moving average price of $104.18 and a 200 day moving average price of $101.67. Franklin Electric Co., Inc. has a 1 year low of $91.45 and a 1 year high of $111.94. The stock has a market cap of $4.48 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data 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). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter last year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s dividend payout ratio is currently 25.32%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered 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, October 30th.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by insiders.

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.