Comerica Bank Has $2.63 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Comerica Bank decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 10.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 30,286 shares of the industrial products company’s stock after selling 3,590 shares during the period. Comerica Bank owned about 0.07% of Franklin Electric worth $2,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FELE. Vaughan Nelson Investment Management L.P. acquired a new position in Franklin Electric in the 2nd quarter worth approximately $37,279,000. State Street Corp boosted its stake in shares of Franklin Electric by 18.7% during the 2nd quarter. State Street Corp now owns 2,679,097 shares of the industrial products company’s stock valued at $196,271,000 after buying an additional 421,342 shares during the period. First Merchants Corp acquired a new stake in shares of Franklin Electric during the 2nd quarter valued at $14,799,000. Boston Trust Walden Corp boosted its stake in shares of Franklin Electric by 22.2% during the 3rd quarter. Boston Trust Walden Corp now owns 442,921 shares of the industrial products company’s stock valued at $36,191,000 after buying an additional 80,527 shares during the period. Finally, Natixis Advisors L.P. boosted its stake in shares of Franklin Electric by 663.3% during the 2nd quarter. Natixis Advisors L.P. now owns 89,385 shares of the industrial products company’s stock valued at $6,549,000 after buying an additional 77,674 shares during the period. Institutional investors and hedge funds own 79.38% 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.75.

Insider Activity

In other news, insider Delancey W. Davis sold 1,000 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $84.91, for a total transaction of $84,910.00. Following the transaction, the insider now owns 9,777 shares in the company, valued at approximately $830,165.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Franklin Electric Trading Down 0.2 %

Shares of NASDAQ:FELE opened at $86.32 on Wednesday. The firm has a market capitalization of $4.00 billion, a P/E ratio of 21.69 and a beta of 0.98. The firm has a fifty day moving average of $81.96 and a two-hundred day moving average of $83.78. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 0.09. Franklin Electric Co., Inc. has a 12-month low of $68.27 and a 12-month high of $96.19.

Franklin Electric (NASDAQ:FELEGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). The business had revenue of $551.67 million for the quarter, compared to the consensus estimate of $559.00 million. Franklin Electric had a net margin of 9.48% and a return on equity of 18.71%. On average, equities analysts expect that Franklin Electric Co., Inc. will post 4.09 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.90%. Franklin Electric’s dividend payout ratio is currently 19.60%.

Franklin Electric Profile

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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.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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