Rhumbline Advisers increased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,076 shares of the industrial products company’s stock after acquiring an additional 5,556 shares during the quarter. Rhumbline Advisers owned about 0.32% of Franklin Electric worth $15,031,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Column Capital Advisors LLC purchased a new position in shares of Franklin Electric during the 1st quarter worth approximately $33,000. Point72 Asset Management L.P. bought a new position in Franklin Electric in the fourth quarter worth $34,000. Brown Brothers Harriman & Co. bought a new position in Franklin Electric in the first quarter worth $38,000. Belpointe Asset Management LLC lifted its position in Franklin Electric by 98.3% during the first quarter. Belpointe Asset Management LLC now owns 595 shares of the industrial products company’s stock valued at $56,000 after buying an additional 295 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of Franklin Electric by 746.8% during the 1st quarter. Global Retirement Partners LLC now owns 669 shares of the industrial products company’s stock valued at $64,000 after buying an additional 590 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.
Analyst Ratings Changes
FELE has been the subject of several research reports. StockNews.com assumed coverage on shares of Franklin Electric in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Robert W. Baird raised 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $96.00.
Insiders Place Their Bets
In other news, insider Delancey W. Davis sold 1,000 shares of Franklin Electric stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $90.80, for a total value of $90,800.00. Following the completion of the sale, the insider now directly owns 9,716 shares in the company, valued at $882,212.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Delancey W. Davis sold 598 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $98.14, for a total value of $58,687.72. Following the transaction, the insider now directly owns 10,716 shares in the company, valued at approximately $1,051,668.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Delancey W. Davis sold 1,000 shares of Franklin Electric stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $90.80, for a total value of $90,800.00. Following the completion of the sale, the insider now directly owns 9,716 shares of the company’s stock, valued at approximately $882,212.80. The disclosure for this sale can be found here. 2.84% of the stock is owned by insiders.
Franklin Electric Stock Up 1.3 %
Shares of Franklin Electric stock opened at $89.88 on Monday. The company has a 50-day simple moving average of $88.46 and a two-hundred day simple moving average of $94.30. The stock has a market capitalization of $4.15 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.80 and a beta of 0.98. Franklin Electric Co., Inc. has a 52-week low of $77.69 and a 52-week high of $107.36. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 2.74.
Franklin Electric (NASDAQ:FELE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). The firm had revenue of $538.43 million during the quarter, compared to analysts’ expectations of $573.50 million. Franklin Electric had a return on equity of 17.30% and a net margin of 9.33%. On average, analysts anticipate that Franklin Electric Co., Inc. will post 4.15 EPS for the current fiscal year.
Franklin Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were issued a $0.225 dividend. The ex-dividend date was Wednesday, November 1st. This represents a $0.90 annualized dividend and a yield of 1.00%. Franklin Electric’s payout ratio is 21.79%.
Franklin Electric 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, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.
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