Franklin Electric Co., Inc. (NASDAQ:FELE) CEO Gregg C. Sengstack Sells 16,000 Shares

Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) CEO Gregg C. Sengstack sold 16,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $87.62, for a total transaction of $1,401,920.00. Following the transaction, the chief executive officer now owns 164,997 shares in the company, valued at $14,457,037.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Franklin Electric Stock Up 0.7 %

Shares of NASDAQ FELE opened at $91.50 on Tuesday. Franklin Electric Co., Inc. has a 1 year low of $68.27 and a 1 year high of $96.95. The firm’s 50 day moving average price is $75.06 and its 200 day moving average price is $78.86. The firm has a market cap of $4.24 billion, a P/E ratio of 24.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 1.69.

Franklin Electric (NASDAQ:FELEGet Rating) last announced its earnings results on Tuesday, July 26th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.20. Franklin Electric had a net margin of 9.29% and a return on equity of 17.82%. The firm had revenue of $551.10 million for the quarter, compared to analyst estimates of $528.67 million. During the same quarter last year, the business earned $0.83 earnings per share. Franklin Electric’s revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.13 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, August 3rd. Franklin Electric’s dividend payout ratio is currently 20.97%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Franklin Electric in a research report on Friday, July 15th. They set a “buy” rating and a $82.00 target price on the stock. DA Davidson increased their price target on shares of Franklin Electric to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. StockNews.com upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday. Seaport Res Ptn upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 27th. Finally, Robert W. Baird increased their price target on shares of Franklin Electric from $75.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.75.

Hedge Funds Weigh In On Franklin Electric

A number of large investors have recently bought and sold shares of FELE. Parkside Financial Bank & Trust raised its stake in Franklin Electric by 138.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 289 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 168 shares during the period. CWM LLC raised its stake in Franklin Electric by 226.5% during the first quarter. CWM LLC now owns 369 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 256 shares during the period. Van ECK Associates Corp raised its stake in Franklin Electric by 68.0% during the first quarter. Van ECK Associates Corp now owns 405 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 164 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Franklin Electric during the first quarter worth approximately $38,000. Finally, Ellevest Inc. raised its stake in Franklin Electric by 47.5% during the first quarter. Ellevest Inc. now owns 621 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 77.59% of the company’s stock.

Franklin Electric Company Profile

(Get Rating)

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

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