Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,305 shares of the industrial products company’s stock after acquiring an additional 367 shares during the period. Park Avenue Securities LLC’s holdings in Franklin Electric were worth $225,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. CWM LLC boosted its stake in 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 purchasing an additional 98 shares during the period. Covestor Ltd grew its holdings in Franklin Electric by 15.6% in the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after buying an additional 103 shares in the last quarter. Blue Trust Inc. increased its position in Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 107 shares during the period. Marshall Wace LLP raised its stake in Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock valued at $1,060,000 after acquiring an additional 109 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after acquiring an additional 156 shares during the period. 79.98% of the stock is owned by institutional investors.

Franklin Electric Trading Down 0.5 %

NASDAQ:FELE opened at $98.57 on Monday. The stock has a fifty day simple moving average of $101.73 and a 200 day simple moving average of $101.87. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.95, a price-to-earnings-growth ratio of 1.93 and a beta of 1.00. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-year high of $111.94. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

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

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated 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 owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

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

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.