US Bancorp DE Sells 1,252 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

US Bancorp DE reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,057 shares of the industrial products company’s stock after selling 1,252 shares during the quarter. US Bancorp DE’s holdings in Franklin Electric were worth $883,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Spire Wealth Management bought a new stake in Franklin Electric during the 4th quarter worth approximately $29,000. Trust Co. of Vermont bought a new position in Franklin Electric in the fourth quarter valued at approximately $40,000. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after buying an additional 198 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Franklin Electric in the third quarter valued at approximately $77,000. Finally, Covestor Ltd increased its position in shares of Franklin Electric by 15.6% during the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 103 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now owns 7,701 shares of the company’s stock, valued at $794,281.14. The trade was a 11.09 % 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. Company insiders own 2.72% of the company’s stock.

Franklin Electric Trading Up 1.7 %

Shares of NASDAQ:FELE opened at $102.75 on Monday. The company’s fifty day simple moving average is $99.71 and its 200 day simple moving average is $101.97. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 2.11 and a beta of 0.98. 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 Co., Inc. has a 12 month low of $91.67 and a 12 month high of $111.94.

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

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.03%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is 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.