Franklin Electric Co., Inc. (NASDAQ:FELE) Insider Delancey W. Davis Sells 1,000 Shares of Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) insider Delancey W. Davis sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $90.80, for a total transaction of $90,800.00. Following the sale, the insider now owns 9,716 shares in the company, valued at approximately $882,212.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Franklin Electric Stock Performance

Shares of FELE stock opened at $89.78 on Thursday. The company has a quick ratio of 1.09, a current ratio of 2.74 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $88.68 and a 200-day moving average price of $94.41. Franklin Electric Co., Inc. has a 52 week low of $77.69 and a 52 week high of $107.36. The firm has a market capitalization of $4.14 billion, a PE ratio of 21.74, a P/E/G ratio of 1.75 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). The company had revenue of $538.43 million during the quarter, compared to analysts’ expectations of $573.50 million. Franklin Electric had a return on equity of 17.30% and a net margin of 9.33%. As a group, equities research analysts expect that Franklin Electric Co., Inc. will post 4.15 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 2nd will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, November 1st. Franklin Electric’s dividend payout ratio (DPR) is presently 21.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Franklin Electric by 0.4% in the 3rd quarter. Morgan Stanley now owns 589,206 shares of the industrial products company’s stock worth $52,575,000 after purchasing an additional 2,075 shares during the period. The Manufacturers Life Insurance Company raised its position in Franklin Electric by 28.3% in the third quarter. The Manufacturers Life Insurance Company now owns 23,725 shares of the industrial products company’s stock worth $2,117,000 after acquiring an additional 5,227 shares during the period. Royal Bank of Canada raised its position in Franklin Electric by 48.3% in the third quarter. Royal Bank of Canada now owns 6,254 shares of the industrial products company’s stock worth $557,000 after acquiring an additional 2,038 shares during the period. Sei Investments Co. grew its position in shares of Franklin Electric by 8.9% during the 3rd quarter. Sei Investments Co. now owns 38,960 shares of the industrial products company’s stock valued at $3,476,000 after acquiring an additional 3,190 shares during the period. Finally, Lido Advisors LLC purchased a new stake in shares of Franklin Electric in the 3rd quarter worth $1,380,000. 77.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird upped their price objective on Franklin Electric from $94.00 to $102.00 in a research report on Wednesday, July 26th. StockNews.com began coverage on Franklin Electric in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.00.

About Franklin Electric

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, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.