US Bancorp DE lessened its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) by 19.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,412 shares of the industrial products company’s stock after selling 4,794 shares during the quarter. US Bancorp DE’s holdings in Franklin Electric were worth $1,587,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Franklin Electric by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 107,714 shares of the industrial products company’s stock valued at $8,945,000 after purchasing an additional 7,354 shares during the last quarter. Raymond James & Associates raised its stake in Franklin Electric by 9.6% in the 1st quarter. Raymond James & Associates now owns 4,455 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 390 shares during the last quarter. American Century Companies Inc. raised its stake in Franklin Electric by 5.5% in the 1st quarter. American Century Companies Inc. now owns 5,458 shares of the industrial products company’s stock valued at $453,000 after purchasing an additional 285 shares during the last quarter. Citigroup Inc. raised its stake in Franklin Electric by 7.3% in the 1st quarter. Citigroup Inc. now owns 44,785 shares of the industrial products company’s stock valued at $3,718,000 after purchasing an additional 3,046 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in Franklin Electric by 6.4% in the 1st quarter. Natixis Advisors L.P. now owns 11,711 shares of the industrial products company’s stock valued at $972,000 after purchasing an additional 705 shares during the last quarter. Institutional investors and hedge funds own 79.38% of the company’s stock.
Franklin Electric Trading Up 1.6 %
NASDAQ FELE opened at $86.46 on Tuesday. Franklin Electric Co., Inc. has a 12 month low of $68.27 and a 12 month high of $96.19. The company has a 50-day moving average of $81.88 and a 200-day moving average of $83.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.92 and a quick ratio of 0.71. The company has a market cap of $4.00 billion, a P/E ratio of 21.72 and a beta of 0.98.
Franklin Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, November 2nd. Franklin Electric’s payout ratio is currently 19.60%.
Insider Transactions at Franklin Electric
In other news, insider Delancey W. Davis sold 1,000 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $84.91, for a total transaction of $84,910.00. Following the completion of the sale, the insider now owns 9,777 shares in the company, valued at approximately $830,165.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.75.
Franklin Electric Company Profile
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.
- Get a free copy of the StockNews.com research report on Franklin Electric (FELE)
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