Franklin Electric Co., Inc. (NASDAQ:FELE) VP Donald P. Kenney sold 4,754 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of the sale, the vice president now owns 19,129 shares of the company’s stock, valued at $860,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Franklin Electric Co., Inc. (FELE) traded up $0.35 during midday trading on Tuesday, reaching $44.35. The company had a trading volume of 282,700 shares, compared to its average volume of 156,451. Franklin Electric Co., Inc. has a 1 year low of $36.00 and a 1 year high of $46.95. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2,050.00, a PE ratio of 24.18 and a beta of 1.62.
Franklin Electric Co. (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Franklin Electric Co. had a return on equity of 13.09% and a net margin of 8.13%. The firm had revenue of $311.11 million during the quarter, compared to analysts’ expectations of $317.54 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. sell-side analysts forecast that Franklin Electric Co., Inc. will post 1.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be given a $0.1075 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.97%. Franklin Electric Co.’s payout ratio is 22.87%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FELE. BlackRock Inc. lifted its position in shares of Franklin Electric Co. by 26,341.4% in the first quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock valued at $224,097,000 after buying an additional 5,185,831 shares during the last quarter. Channing Capital Management LLC acquired a new stake in shares of Franklin Electric Co. in the third quarter valued at approximately $30,888,000. First Merchants Corp acquired a new stake in shares of Franklin Electric Co. in the third quarter valued at approximately $21,739,000. Royce & Associates LP lifted its position in shares of Franklin Electric Co. by 29.6% in the second quarter. Royce & Associates LP now owns 1,471,248 shares of the industrial products company’s stock valued at $60,910,000 after buying an additional 335,900 shares during the last quarter. Finally, Impax Asset Management LTD lifted its position in shares of Franklin Electric Co. by 18.7% in the third quarter. Impax Asset Management LTD now owns 1,816,445 shares of the industrial products company’s stock valued at $81,468,000 after buying an additional 285,940 shares during the last quarter. 78.92% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the company. Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric Co. in a report on Wednesday, October 25th. Zacks Investment Research downgraded Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Robert W. Baird upped their price objective on Franklin Electric Co. from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Boenning Scattergood reaffirmed a “buy” rating on shares of Franklin Electric Co. in a research report on Tuesday, October 24th. Finally, BidaskClub cut Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.33.
Franklin Electric Co. Company Profile
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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