Franklin Electric Co., Inc. (NASDAQ:FELE) Insider Delancey W. Davis Sells 10,973 Shares

Franklin Electric Co., Inc. (NASDAQ:FELEGet 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:FELEGet 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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be issued a $0.195 dividend. The ex-dividend date is Wednesday, August 3rd. This represents a $0.78 annualized dividend and a dividend yield of 0.85%. Franklin Electric’s dividend payout ratio (DPR) is presently 20.97%.

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

(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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