Delancey W. Davis Sells 8,576 Shares of Franklin Electric Co. (FELE) Stock

Franklin Electric Co. (NASDAQ:FELE) insider Delancey W. Davis sold 8,576 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $42.16, for a total transaction of $361,564.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Franklin Electric Co. (FELE) traded up $0.90 during mid-day trading on Friday, reaching $42.80. 517,497 shares of the company’s stock traded hands, compared to its average volume of 130,880. The company has a quick ratio of 1.13, a current ratio of 2.40 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1,953.80, a P/E ratio of 25.78 and a beta of 1.60. Franklin Electric Co. has a 52-week low of $36.00 and a 52-week high of $47.20.

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Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, February 20th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $288.20 million for the quarter, compared to analyst estimates of $312.73 million. Franklin Electric had a return on equity of 12.97% and a net margin of 6.95%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. sell-side analysts forecast that Franklin Electric Co. will post 2.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a $0.108 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.01%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.90%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in shares of Franklin Electric by 3.6% in the third quarter. New York State Common Retirement Fund now owns 741,583 shares of the industrial products company’s stock valued at $33,260,000 after purchasing an additional 25,450 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Franklin Electric by 24.1% in the third quarter. JPMorgan Chase & Co. now owns 23,166 shares of the industrial products company’s stock valued at $1,045,000 after purchasing an additional 4,498 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Franklin Electric by 49.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,280 shares of the industrial products company’s stock valued at $730,000 after purchasing an additional 5,380 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Franklin Electric by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,629,982 shares of the industrial products company’s stock valued at $73,105,000 after purchasing an additional 35,564 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Franklin Electric by 8.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 286,570 shares of the industrial products company’s stock valued at $13,154,000 after purchasing an additional 22,344 shares during the last quarter. Institutional investors own 77.87% of the company’s stock.

Several analysts have commented on FELE shares. BidaskClub upgraded shares of Franklin Electric from a “strong sell” rating to a “sell” rating in a report on Thursday, March 8th. Zacks Investment Research upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, February 21st. Seaport Global Securities restated a “hold” rating and set a $41.00 target price on shares of Franklin Electric in a report on Friday, February 23rd. Robert W. Baird restated a “hold” rating and set a $47.00 target price on shares of Franklin Electric in a report on Friday, February 23rd. Finally, Boenning Scattergood restated a “buy” rating and set a $54.00 target price on shares of Franklin Electric in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Franklin Electric presently has an average rating of “Hold” and a consensus target price of $46.75.

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About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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