Citigroup Inc. Increases Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Citigroup Inc. boosted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) by 24.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,653 shares of the industrial products company’s stock after acquiring an additional 5,444 shares during the quarter. Citigroup Inc.’s holdings in Franklin Electric were worth $2,205,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Franklin Electric by 130.4% in the third quarter. Signaturefd LLC now owns 394 shares of the industrial products company’s stock valued at $32,000 after buying an additional 223 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Franklin Electric in the 1st quarter valued at $38,000. Covestor Ltd increased its stake in shares of Franklin Electric by 3,382.6% in the first quarter. Covestor Ltd now owns 801 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 778 shares during the period. Quantbot Technologies LP acquired a new position in Franklin Electric during the third quarter valued at $110,000. Finally, Quadrant Capital Group LLC grew its position in Franklin Electric by 74.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,440 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 615 shares during the period. Hedge funds and other institutional investors own 79.38% of the company’s stock.

Franklin Electric Price Performance

Franklin Electric stock opened at $91.63 on Thursday. Franklin Electric Co., Inc. has a 12-month low of $68.38 and a 12-month high of $100.00. The stock has a market cap of $4.23 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.80 and a beta of 0.98. The company has a current ratio of 1.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $90.94 and a 200-day simple moving average of $87.98.

Franklin Electric (NASDAQ:FELE – Get Rating) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Franklin Electric had a net margin of 9.38% and a return on equity of 18.76%. The business had revenue of $484.60 million for the quarter, compared to analysts’ expectations of $476.26 million. During the same period in the previous year, the company posted $0.64 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts expect that Franklin Electric Co., Inc. will post 4.35 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Thursday, May 4th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Wednesday, May 3rd. Franklin Electric’s dividend payout ratio (DPR) is 21.79%.

Insider Buying and Selling

In related news, CEO Gregg C. Sengstack sold 9,246 shares of Franklin Electric stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $95.08, for a total transaction of $879,109.68. Following the completion of the transaction, the chief executive officer now directly owns 158,486 shares of the company’s stock, valued at $15,068,848.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Franklin Electric news, VP Donald P. Kenney sold 2,592 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $94.50, for a total transaction of $244,944.00. Following the transaction, the vice president now owns 25,318 shares of the company’s stock, valued at approximately $2,392,551. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregg C. Sengstack sold 9,246 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $95.08, for a total value of $879,109.68. Following the completion of the transaction, the chief executive officer now owns 158,486 shares of the company’s stock, valued at $15,068,848.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,488 shares of company stock valued at $2,217,755. Corporate insiders own 2.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FELE. Oppenheimer began coverage on Franklin Electric in a research note on Tuesday, April 18th. They issued a “market perform” rating on the stock. DA Davidson reaffirmed a “neutral” rating and set a $90.00 price objective (up previously from $85.00) on shares of Franklin Electric in a research note on Wednesday, May 3rd. Seaport Res Ptn reiterated a “buy” rating on shares of Franklin Electric in a research note on Wednesday, May 10th. Robert W. Baird lifted their price target on shares of Franklin Electric from $87.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Finally, StockNews.com initiated coverage on Franklin Electric in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franklin Electric presently has an average rating of “Hold” and an average price target of $88.33.

Franklin Electric Company Profile

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Franklin Electric Co, Inc engages in the development, manufacture, and distribution of water and fuel pumping systems. It operates through the following business segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment designs, manufactures, and sells water pumping systems, submersible motors, pumps, electronic controls, and related parts and equipment.