Jane Street Group LLC Sells 37,895 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Jane Street Group LLC decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 76.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,955 shares of the industrial products company’s stock after selling 37,895 shares during the period. Jane Street Group LLC’s holdings in Franklin Electric were worth $1,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mariner LLC increased its position in Franklin Electric by 1.8% during the fourth quarter. Mariner LLC now owns 6,471 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 116 shares during the last quarter. BHK Investment Advisors LLC grew its stake in shares of Franklin Electric by 2.5% during the fourth quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock valued at $501,000 after buying an additional 125 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Franklin Electric by 3.4% during the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock valued at $434,000 after buying an additional 145 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Franklin Electric by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,739 shares of the industrial products company’s stock valued at $462,000 after buying an additional 150 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Franklin Electric by 4.1% during the fourth quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company’s stock valued at $409,000 after buying an additional 164 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Robert W. Baird cut their price target on shares of Franklin Electric from $111.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. StockNews.com upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th.

Franklin Electric Stock Down 0.7%

Shares of Franklin Electric stock opened at $88.74 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The firm’s 50-day moving average is $90.65 and its two-hundred day moving average is $98.10. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.11 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $455.25 million for the quarter, compared to the consensus estimate of $471.21 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. As a group, research analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.19%. Franklin Electric’s dividend payout ratio is presently 27.75%.

Insider Activity

In other news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares of the company’s stock, valued at $794,281.14. This trade represents a 11.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.72% of the company’s stock.

Franklin Electric Company 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.