Franklin Electric (NASDAQ:FELE) Upgraded at StockNews.com

StockNews.com upgraded shares of Franklin Electric (NASDAQ:FELEGet Rating) from a hold rating to a buy rating in a report released on Monday.

Several other brokerages have also commented on FELE. Zacks Investment Research lowered Franklin Electric from a hold rating to a sell rating in a research report on Thursday, May 5th. Boenning Scattergood upgraded Franklin Electric from a neutral rating to an outperform rating and set a $95.00 target price for the company in a research report on Wednesday, March 9th. Seaport Res Ptn upgraded Franklin Electric from a neutral rating to a buy rating in a research report on Wednesday, April 27th. Finally, Robert W. Baird cut their price target on Franklin Electric from $93.00 to $86.00 in a report on Wednesday, April 27th.

Shares of NASDAQ FELE opened at $71.02 on Monday. Franklin Electric has a fifty-two week low of $68.27 and a fifty-two week high of $96.95. The business has a 50 day moving average price of $80.05 and a two-hundred day moving average price of $86.19. The company has a quick ratio of 0.62, a current ratio of 1.70 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.30 billion, a PE ratio of 21.59 and a beta of 1.03.

Franklin Electric (NASDAQ:FELEGet Rating) last issued its earnings results on Tuesday, April 26th. The industrial products company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $451.50 million during the quarter, compared to analyst estimates of $424.62 million. Franklin Electric had a return on equity of 16.08% and a net margin of 8.75%. The business’s revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. On average, analysts anticipate that Franklin Electric will post 3.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 19th. Investors of record on Thursday, May 5th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, May 4th. Franklin Electric’s dividend payout ratio (DPR) is 23.71%.

In related news, insider Delancey W. Davis sold 3,075 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $85.30, for a total value of $262,297.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in Franklin Electric by 138.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 289 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. CWM LLC grew its holdings in shares of Franklin Electric by 226.5% in the 1st quarter. CWM LLC now owns 369 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Liberty Wealth Management LLC grew its holdings in shares of Franklin Electric by 99.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 363 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 181 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Franklin Electric by 3,658.3% during the third quarter. Rockefeller Capital Management L.P. now owns 451 shares of the industrial products company’s stock valued at $36,000 after buying an additional 439 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Franklin Electric by 9,600.0% during the fourth quarter. Harbour Investments Inc. now owns 388 shares of the industrial products company’s stock valued at $37,000 after buying an additional 384 shares in the last quarter. 77.59% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Company Profile (Get Rating)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.

Further Reading

Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.