SeaCrest Wealth Management LLC Acquires Shares of 509 Franklin Electric Co., Inc. (NASDAQ:FELE)

SeaCrest Wealth Management LLC acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) during the second quarter, according to its most recent filing with the SEC. The firm acquired 509 shares of the industrial products company’s stock, valued at approximately $37,000.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Franklin Electric by 68.0% in the 1st quarter. Van ECK Associates Corp now owns 405 shares of the industrial products company’s stock valued at $34,000 after buying an additional 164 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Franklin Electric in the 1st quarter valued at $38,000. Quadrant Capital Group LLC lifted its stake in shares of Franklin Electric by 37.1% in the 1st quarter. Quadrant Capital Group LLC now owns 736 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 199 shares during the period. Covestor Ltd lifted its stake in shares of Franklin Electric by 3,382.6% in the 1st quarter. Covestor Ltd now owns 801 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 778 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Franklin Electric in the 2nd quarter valued at $75,000. 78.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,000 shares of Franklin Electric stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $84.91, for a total value of $84,910.00. Following the sale, the insider now owns 9,777 shares of the company’s stock, valued at approximately $830,165.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FELE. Northcoast Research downgraded Franklin Electric from a “buy” rating to a “neutral” rating in a research note on Monday, August 15th. StockNews.com raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. DA Davidson increased their price target on Franklin Electric to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Finally, Robert W. Baird increased their price target on Franklin Electric from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.75.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $85.05 on Tuesday. The company has a market capitalization of $3.94 billion, a PE ratio of 21.37 and a beta of 1.00. Franklin Electric Co., Inc. has a 12 month low of $68.27 and a 12 month high of $96.95. The company has a current ratio of 1.92, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $83.60 and its 200 day simple moving average is $81.03.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 3rd were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, November 2nd. Franklin Electric’s payout ratio is presently 19.60%.

Franklin Electric 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.

Further Reading

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

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