First Merchants Corp Has $20.71 Million Holdings in Franklin Electric Co. (FELE)

First Merchants Corp lowered its stake in Franklin Electric Co. (NASDAQ:FELE) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 483,000 shares of the industrial products company’s stock after selling 500 shares during the period. Franklin Electric makes up about 4.0% of First Merchants Corp’s investment portfolio, making the stock its largest holding. First Merchants Corp owned approximately 1.03% of Franklin Electric worth $20,711,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of FELE. BlackRock Inc. increased its holdings in shares of Franklin Electric by 4.1% in the third quarter. BlackRock Inc. now owns 6,031,721 shares of the industrial products company’s stock valued at $284,997,000 after buying an additional 240,251 shares in the last quarter. Morgan Stanley increased its holdings in shares of Franklin Electric by 34.9% in the third quarter. Morgan Stanley now owns 408,447 shares of the industrial products company’s stock valued at $19,299,000 after buying an additional 105,636 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Franklin Electric by 2.5% in the third quarter. Vanguard Group Inc now owns 4,313,834 shares of the industrial products company’s stock valued at $203,829,000 after buying an additional 104,385 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Franklin Electric by 2.5% in the third quarter. Vanguard Group Inc. now owns 4,313,834 shares of the industrial products company’s stock valued at $203,829,000 after buying an additional 104,385 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Franklin Electric by 7.8% in the third quarter. Royce & Associates LP now owns 1,379,207 shares of the industrial products company’s stock valued at $65,168,000 after buying an additional 99,609 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

In other Franklin Electric news, VP John J. Haines sold 2,000 shares of Franklin Electric stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $45.25, for a total transaction of $90,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.52% of the company’s stock.

NASDAQ FELE opened at $47.78 on Friday. Franklin Electric Co. has a twelve month low of $38.45 and a twelve month high of $51.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 2.22. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.29 and a beta of 1.40.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 1.21%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, January 31st. Franklin Electric’s payout ratio is presently 25.00%.

Several research analysts have issued reports on the company. Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a report on Monday, November 19th. BidaskClub upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $48.80.

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Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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

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