Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) insider Delancey W. Davis sold 10,973 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $86.21, for a total transaction of $945,982.33. Following the transaction, the insider now owns 10,777 shares of the company’s stock, valued at approximately $929,085.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Franklin Electric Stock Performance
Shares of FELE stock opened at $91.50 on Tuesday. The stock has a market cap of $4.24 billion, a PE ratio of 24.60 and a beta of 1.07. The business has a 50-day simple moving average of $75.06 and a 200-day simple moving average of $78.86. The company has a quick ratio of 0.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. Franklin Electric Co., Inc. has a 52-week low of $68.27 and a 52-week high of $96.95.
Franklin Electric (NASDAQ:FELE – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.20. The business had revenue of $551.10 million during the quarter, compared to analysts’ expectations of $528.67 million. Franklin Electric had a return on equity of 17.82% and a net margin of 9.29%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, equities analysts expect that Franklin Electric Co., Inc. will post 4.13 EPS for the current year.
Franklin Electric Dividend Announcement
Hedge Funds Weigh In On Franklin Electric
Several institutional investors and hedge funds have recently modified their holdings of FELE. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Franklin Electric in the 2nd quarter valued at about $37,279,000. First Merchants Corp purchased a new position in shares of Franklin Electric in the 2nd quarter valued at about $14,799,000. Allianz Asset Management GmbH increased its stake in shares of Franklin Electric by 11.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,022,495 shares of the industrial products company’s stock valued at $96,687,000 after purchasing an additional 102,989 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Franklin Electric in the 1st quarter valued at about $6,291,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Franklin Electric by 105.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 130,378 shares of the industrial products company’s stock valued at $12,202,000 after purchasing an additional 66,849 shares in the last quarter. Institutional investors and hedge funds own 77.59% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on FELE shares. Robert W. Baird upped their price target on shares of Franklin Electric from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Northcoast Research started coverage on shares of Franklin Electric in a research note on Friday, July 15th. They set a “buy” rating and a $82.00 price target on the stock. StockNews.com upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday. DA Davidson upped their price target on shares of Franklin Electric to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Finally, Seaport Res Ptn upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.75.
Franklin Electric Company Profile
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.
- Get a free copy of the StockNews.com research report on Franklin Electric (FELE)
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