JPMorgan Chase & Co. Raises Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

JPMorgan Chase & Co. boosted its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,305 shares of the industrial products company’s stock after buying an additional 31,937 shares during the period. JPMorgan Chase & Co. owned 0.34% of Franklin Electric worth $16,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Franklin Electric by 40.0% in the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after buying an additional 7,092 shares during the period. Intech Investment Management LLC increased its stake in shares of Franklin Electric by 420.9% during the third quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock valued at $1,153,000 after purchasing an additional 8,889 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 107 shares in the last quarter. PDT Partners LLC increased its stake in shares of Franklin Electric by 241.8% during the third quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock valued at $1,261,000 after purchasing an additional 8,510 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Franklin Electric by 73.1% during the third quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock valued at $6,176,000 after purchasing an additional 24,889 shares in the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s 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 in the company, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.72% of the stock is owned by insiders.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $93.38 on Friday. Franklin Electric Co., Inc. has a fifty-two week low of $91.49 and a fifty-two week high of $111.94. The company has a 50 day simple moving average of $103.36 and a two-hundred day simple moving average of $101.55. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 2.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

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

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is currently 25.32%.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their target price on shares of 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.