Zurcher Kantonalbank Zurich Cantonalbank Has $875,000 Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,057 shares of the industrial products company’s stock after acquiring an additional 698 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Franklin Electric were worth $875,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FELE. Pacer Advisors Inc. acquired a new stake in shares of Franklin Electric in the 4th quarter worth about $26,000. VisionPoint Advisory Group LLC bought a new stake in Franklin Electric during the third quarter worth $37,000. Global Retirement Partners LLC raised its position in Franklin Electric by 51.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,094 shares of the industrial products company’s stock valued at $103,000 after buying an additional 374 shares during the last quarter. OneAscent Financial Services LLC purchased a new position in Franklin Electric during the 4th quarter worth $206,000. Finally, Caprock Group LLC grew its stake in shares of Franklin Electric by 8.1% in the 3rd quarter. Caprock Group LLC now owns 2,372 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Northcoast Research upgraded Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Friday, February 23rd. Finally, StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Franklin Electric Stock Performance

NASDAQ:FELE opened at $102.77 on Monday. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $107.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.97 and a quick ratio of 1.20. The business has a fifty day simple moving average of $102.35 and a two-hundred day simple moving average of $95.70. The company has a market capitalization of $4.73 billion, a P/E ratio of 25.00, a P/E/G ratio of 1.98 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $472.97 million during the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, analysts expect that Franklin Electric Co., Inc. will post 4.32 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.97%. Franklin Electric’s dividend payout ratio is currently 24.33%.

Insider Transactions at Franklin Electric

In related news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the sale, the chief executive officer now owns 154,993 shares of the company’s stock, valued at approximately $15,493,100.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.