Franklin Electric Co., Inc. $FELE Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,086 shares of the industrial products company’s stock after acquiring an additional 9,528 shares during the quarter. Alps Advisors Inc. owned approximately 0.20% of Franklin Electric worth $8,576,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Franklin Electric by 31.2% during the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 101 shares during the last quarter. MAI Capital Management lifted its position in Franklin Electric by 36.5% during the second quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock worth $44,000 after buying an additional 131 shares during the period. Osaic Holdings Inc. boosted its stake in Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock worth $55,000 after buying an additional 119 shares during the last quarter. Covestor Ltd grew its holdings in Franklin Electric by 24.6% in the 3rd quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock valued at $89,000 after buying an additional 185 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Franklin Electric by 10.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 114 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 29th. Robert W. Baird set a $112.00 price target on shares of Franklin Electric in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Franklin Electric currently has a consensus rating of “Hold” and an average target price of $112.00.

Franklin Electric Price Performance

FELE opened at $107.55 on Monday. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $108.08. The company has a 50 day moving average of $98.58 and a two-hundred day moving average of $96.46. The company has a market cap of $4.79 billion, a P/E ratio of 35.03, a P/E/G ratio of 1.90 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a $0.28 dividend. The ex-dividend date is Thursday, February 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.27. Franklin Electric’s dividend payout ratio (DPR) is currently 36.48%.

Franklin Electric Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.