Rhumbline Advisers Has $14.13 Million Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Rhumbline Advisers reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,004 shares of the industrial products company’s stock after selling 6,376 shares during the quarter. Rhumbline Advisers owned 0.32% of Franklin Electric worth $14,131,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Franklin Electric by 55.7% during the 3rd 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 during the period. Spire Wealth Management purchased a new position in shares of Franklin Electric during the 4th quarter valued at $29,000. Trust Co. of Vermont purchased a new position in shares of Franklin Electric during the 4th quarter valued at $40,000. CWM LLC grew its holdings in shares of Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 98 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of 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 acquiring an additional 164 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Franklin Electric Trading Down 1.7 %

Franklin Electric stock opened at $104.24 on Friday. The stock has a market cap of $4.76 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.11 and a beta of 1.00. Franklin Electric Co., Inc. has a 12 month low of $91.67 and a 12 month high of $111.94. The company’s fifty day simple moving average is $99.32 and its 200-day simple moving average is $101.73. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. As a group, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. The ex-dividend date was Thursday, February 6th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.02%. Franklin Electric’s dividend payout ratio is currently 27.53%.

About Franklin Electric

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.