Russell Investments Group Ltd. Sells 1,714 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Russell Investments Group Ltd. trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,845 shares of the industrial products company’s stock after selling 1,714 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Franklin Electric worth $3,417,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Arizona State Retirement System increased its holdings in Franklin Electric by 3.8% in the 4th quarter. Arizona State Retirement System now owns 11,103 shares of the industrial products company’s stock valued at $885,000 after buying an additional 405 shares during the period. US Asset Management LLC bought a new position in Franklin Electric in the 4th quarter valued at about $184,000. Duality Advisers LP bought a new position in Franklin Electric in the 4th quarter valued at about $770,000. LPL Financial LLC increased its holdings in Franklin Electric by 2.6% in the 4th quarter. LPL Financial LLC now owns 6,828 shares of the industrial products company’s stock valued at $545,000 after buying an additional 174 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Franklin Electric by 1.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 97,986 shares of the industrial products company’s stock valued at $7,814,000 after buying an additional 1,786 shares during the period. 79.38% of the stock is owned by institutional investors.

Franklin Electric Stock Up 1.5 %

NASDAQ:FELE opened at $93.67 on Friday. The firm’s 50 day simple moving average is $90.77 and its 200 day simple moving average is $87.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.99 and a quick ratio of 0.75. Franklin Electric Co., Inc. has a one year low of $68.38 and a one year high of $100.00. The company has a market cap of $4.33 billion, a PE ratio of 22.68, a P/E/G ratio of 1.74 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE – Get Rating) last posted its earnings results on Tuesday, May 2nd. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Franklin Electric had a net margin of 9.38% and a return on equity of 18.76%. The business had revenue of $484.60 million for the quarter, compared to the consensus estimate of $476.26 million. During the same period last year, the company earned $0.64 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Franklin Electric Co., Inc. will post 4.35 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th were given a $0.225 dividend. The ex-dividend date was Wednesday, May 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.96%. Franklin Electric’s dividend payout ratio (DPR) is currently 21.79%.

Wall Street Analyst Weigh In

FELE has been the topic of several recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Franklin Electric in a report on Wednesday, May 3rd. Robert W. Baird raised their price target on shares of Franklin Electric from $87.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Seaport Res Ptn restated a “buy” rating on shares of Franklin Electric in a research note on Wednesday, May 10th. Oppenheimer initiated coverage on shares of Franklin Electric in a research note on Tuesday, April 18th. They issued a “market perform” rating on the stock. Finally, StockNews.com initiated coverage on shares of Franklin Electric in a research note on Thursday. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Franklin Electric has an average rating of “Hold” and an average price target of $88.33.

Insider Activity

In other Franklin Electric news, CEO Gregg C. Sengstack sold 9,246 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $95.08, for a total transaction of $879,109.68. Following the completion of the sale, the chief executive officer now owns 158,486 shares in the company, valued at approximately $15,068,848.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Kenneth Keene sold 1,149 shares of the stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $96.58, for a total value of $110,970.42. Following the completion of the sale, the vice president now owns 4,272 shares in the company, valued at $412,589.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregg C. Sengstack sold 9,246 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $95.08, for a total transaction of $879,109.68. Following the transaction, the chief executive officer now owns 158,486 shares of the company’s stock, valued at approximately $15,068,848.88. The disclosure for this sale can be found here. Insiders sold 24,637 shares of company stock worth $2,328,725 in the last quarter. 2.84% of the stock is owned by corporate insiders.

About Franklin Electric

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Franklin Electric Co, Inc engages in the development, manufacture, and distribution of water and fuel pumping systems. It operates through the following business segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment designs, manufactures, and sells water pumping systems, submersible motors, pumps, electronic controls, and related parts and equipment.