First Trust Advisors LP Has $32.50 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

First Trust Advisors LP lowered its stake in Franklin Electric Co., Inc. (NASDAQ:FELEFree Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 336,209 shares of the industrial products company’s stock after selling 40,204 shares during the quarter. First Trust Advisors LP owned approximately 0.73% of Franklin Electric worth $32,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Franklin Electric in the fourth quarter valued at about $26,000. Principal Securities Inc. acquired a new position in Franklin Electric during the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC acquired a new position in Franklin Electric during the third quarter worth approximately $37,000. Signaturefd LLC increased its position in Franklin Electric by 35.3% during the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after buying an additional 141 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Franklin Electric by 51.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,094 shares of the industrial products company’s stock worth $103,000 after buying an additional 374 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Franklin Electric stock opened at $96.40 on Monday. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $107.89. The stock’s 50 day moving average is $100.45 and its 200-day moving average is $98.29. The company has a current ratio of 2.85, a quick ratio of 1.17 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.88 and a beta of 0.97.

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

Franklin Electric Dividend Announcement

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

Insider Activity at Franklin Electric

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

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report 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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