Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its stake in Franklin Electric Co., Inc. (NASDAQ:FELEFree Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,100 shares of the industrial products company’s stock after selling 700 shares during the period. TD Asset Management Inc owned about 0.06% of Franklin Electric worth $2,716,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Franklin Electric by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,656,427 shares of the industrial products company’s stock worth $415,493,000 after acquiring an additional 17,092 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Franklin Electric by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,961,273 shares of the industrial products company’s stock valued at $189,557,000 after purchasing an additional 5,915 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Franklin Electric by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 1,167,116 shares of the industrial products company’s stock worth $112,802,000 after purchasing an additional 14,944 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Franklin Electric by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,466 shares of the industrial products company’s stock worth $103,656,000 after buying an additional 30,966 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Franklin Electric by 6.2% in the 3rd quarter. Invesco Ltd. now owns 615,008 shares of the industrial products company’s stock valued at $54,877,000 after buying an additional 36,114 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Performance

FELE opened at $96.40 on Friday. Franklin Electric Co., Inc. has a twelve month low of $82.61 and a twelve month high of $107.89. The stock has a market cap of $4.44 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The business’s 50 day moving average is $100.45 and its 200-day moving average is $98.16. The company has a current ratio of 2.85, a quick ratio of 1.17 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELEGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The business had revenue of $460.90 million for the quarter, compared to analyst estimates of $477.64 million. Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. On average, analysts predict that Franklin Electric Co., Inc. will post 4.27 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Franklin Electric’s dividend payout ratio (DPR) is 24.88%.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 2,214 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $102.06, for a total transaction of $225,960.84. Following the transaction, the insider now owns 8,014 shares in the company, valued at $817,908.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $98.00, for a total transaction of $136,318.00. Following the transaction, the insider now directly owns 18,103 shares of the company’s stock, valued at $1,774,094. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Delancey W. Davis sold 2,214 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the sale, the insider now directly owns 8,014 shares of the company’s stock, valued at $817,908.84. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

FELE has been the topic of a number of recent research reports. Robert W. Baird raised their target price on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Friday, February 23rd. StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, DA Davidson raised their target price on Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st.

View Our Latest Stock Analysis on FELE

Franklin Electric Profile

(Free Report)

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.

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

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