Delancey W. Davis Sells 598 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) insider Delancey W. Davis sold 598 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $98.14, for a total transaction of $58,687.72. Following the sale, the insider now owns 10,716 shares of the company’s stock, valued at $1,051,668.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Franklin Electric Price Performance

Shares of FELE stock opened at $96.71 on Friday. The company has a market capitalization of $4.47 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The firm has a fifty day simple moving average of $99.33 and a 200-day simple moving average of $95.32. The company has a current ratio of 2.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Franklin Electric Co., Inc. has a twelve month low of $77.58 and a twelve month high of $107.36.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.04). The company had revenue of $569.10 million during the quarter, compared to analyst estimates of $601.25 million. Franklin Electric had a net margin of 9.31% and a return on equity of 18.08%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 earnings per share. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.3 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.90 annualized dividend and a yield of 0.93%. Franklin Electric’s dividend payout ratio is presently 21.74%.

Institutional Trading of Franklin Electric

Several institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Franklin Electric by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 107,714 shares of the industrial products company’s stock worth $8,945,000 after buying an additional 7,354 shares during the last quarter. Raymond James & Associates boosted its stake in Franklin Electric by 9.6% in the first quarter. Raymond James & Associates now owns 4,455 shares of the industrial products company’s stock valued at $370,000 after acquiring an additional 390 shares during the period. American Century Companies Inc. boosted its stake in Franklin Electric by 5.5% in the first quarter. American Century Companies Inc. now owns 5,458 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 285 shares during the period. Citigroup Inc. boosted its stake in Franklin Electric by 7.3% in the first quarter. Citigroup Inc. now owns 44,785 shares of the industrial products company’s stock valued at $3,718,000 after acquiring an additional 3,046 shares during the period. Finally, Natixis Advisors L.P. boosted its stake in Franklin Electric by 6.4% in the first quarter. Natixis Advisors L.P. now owns 11,711 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 705 shares during the period. 77.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FELE shares. Seaport Res Ptn restated a “buy” rating on shares of Franklin Electric in a research note on Wednesday, May 10th. StockNews.com started coverage on shares of Franklin Electric in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Robert W. Baird upped their target price on shares of Franklin Electric from $94.00 to $102.00 in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Franklin Electric has an average rating of “Hold” and an average target price of $96.00.

About Franklin Electric

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, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.