Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 87.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,459 shares of the industrial products company’s stock after selling 154,621 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Franklin Electric were worth $2,091,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the last quarter. CWM LLC increased its holdings in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 98 shares during the period. USA Financial Formulas bought a new stake in Franklin Electric in the 3rd quarter valued at about $74,000. Signaturefd LLC boosted its stake in Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Franklin Electric in the 3rd quarter worth about $77,000. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Down 1.0 %

Franklin Electric stock opened at $99.85 on Thursday. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.91 and a beta of 1.00. The company’s 50-day moving average price is $102.22 and its two-hundred day moving average price is $101.78. 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 (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). The company had revenue of $531.40 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. On average, analysts expect that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling

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

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.