Allianz Asset Management GmbH Sells 218,383 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Allianz Asset Management GmbH decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 21.4% during the first quarter, HoldingsChannel reports. The fund owned 804,112 shares of the industrial products company’s stock after selling 218,383 shares during the quarter. Allianz Asset Management GmbH’s holdings in Franklin Electric were worth $66,774,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FELE. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Franklin Electric during the first quarter valued at $6,291,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Franklin Electric during the first quarter valued at $4,517,000. JPMorgan Chase & Co. increased its position in Franklin Electric by 82.4% during the fourth quarter. JPMorgan Chase & Co. now owns 100,360 shares of the industrial products company’s stock valued at $9,491,000 after acquiring an additional 45,335 shares during the last quarter. BlackRock Inc. increased its position in Franklin Electric by 0.5% during the first quarter. BlackRock Inc. now owns 7,902,136 shares of the industrial products company’s stock valued at $656,193,000 after acquiring an additional 42,603 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Franklin Electric by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 745,001 shares of the industrial products company’s stock valued at $70,447,000 after acquiring an additional 40,450 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, VP Paul Chhabra sold 12,236 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $70.02, for a total transaction of $856,764.72. Following the completion of the sale, the vice president now directly owns 10,911 shares of the company’s stock, valued at $763,988.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Paul Chhabra sold 12,236 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $70.02, for a total value of $856,764.72. Following the completion of the transaction, the vice president now directly owns 10,911 shares of the company’s stock, valued at approximately $763,988.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Delancey W. Davis sold 10,973 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $86.21, for a total transaction of $945,982.33. Following the completion of the transaction, the insider now directly owns 10,777 shares of the company’s stock, valued at $929,085.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,209 shares of company stock valued at $4,911,116. 3.10% of the stock is currently owned by insiders.

Franklin Electric Stock Up 0.1 %

Shares of Franklin Electric stock opened at $87.71 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 0.64. 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 is $85.34 and its two-hundred day moving average is $79.94. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 23.58 and a beta of 1.06.

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

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 3rd. Franklin Electric’s payout ratio is 20.97%.

Analysts Set New Price Targets

FELE has been the topic of a number of research analyst reports. Northcoast Research cut shares of Franklin Electric from a “buy” rating to a “neutral” rating in a report on Monday, August 15th. Robert W. Baird upped their price target on shares of Franklin Electric from $75.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. DA Davidson upped their price target on shares of Franklin Electric to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, StockNews.com upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, July 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Franklin Electric has a consensus rating of “Moderate Buy” and a consensus target price of $85.75.

About Franklin Electric

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

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