Van ECK Associates Corp Cuts Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Van ECK Associates Corp reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 30.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 353 shares of the industrial products company’s stock after selling 156 shares during the period. Van ECK Associates Corp’s holdings in Franklin Electric were worth $29,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Franklin Electric during the second quarter valued at approximately $326,000. Boston Trust Walden Corp raised its holdings in shares of Franklin Electric by 0.8% during the second quarter. Boston Trust Walden Corp now owns 362,394 shares of the industrial products company’s stock valued at $26,549,000 after acquiring an additional 3,046 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Franklin Electric by 1.8% during the first quarter. Bank of America Corp DE now owns 786,830 shares of the industrial products company’s stock valued at $65,339,000 after acquiring an additional 13,641 shares in the last quarter. Citizens Financial Group Inc RI raised its holdings in Franklin Electric by 16.3% in the second quarter. Citizens Financial Group Inc RI now owns 3,170 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 444 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Franklin Electric in the second quarter worth $577,000. 79.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $84,910.00. Following the transaction, the insider now directly owns 9,777 shares of the company’s stock, valued at approximately $830,165.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Franklin Electric Trading Up 1.7 %

Franklin Electric stock opened at $85.09 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.92 and a quick ratio of 0.71. Franklin Electric Co., Inc. has a one year low of $68.27 and a one year high of $96.19. The stock has a market capitalization of $3.94 billion, a PE ratio of 21.38 and a beta of 0.98. The business’s fifty day moving average is $82.04 and its 200 day moving average is $83.93.

Franklin Electric (NASDAQ:FELEGet Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.02). The firm had revenue of $551.67 million during the quarter, compared to analysts’ expectations of $559.00 million. Franklin Electric had a return on equity of 18.71% and a net margin of 9.48%. On average, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.09 EPS for the current year.

Franklin Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Franklin Electric presently has an average rating of “Moderate Buy” and an average price target of $85.75.

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.

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

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