Cerity Partners LLC Invests $6.68 Million in Franklin Electric Co., Inc. (NASDAQ:FELE)

Cerity Partners LLC purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 69,072 shares of the industrial products company’s stock, valued at approximately $6,676,000. Cerity Partners LLC owned about 0.15% of Franklin Electric as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC raised its position in shares of Franklin Electric by 2.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,218 shares of the industrial products company’s stock valued at $397,000 after purchasing an additional 115 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Franklin Electric by 6.5% during the second quarter. Franklin Resources Inc. now owns 2,285 shares of the industrial products company’s stock worth $235,000 after buying an additional 140 shares during the period. HighTower Advisors LLC lifted its stake in shares of Franklin Electric by 4.0% during the first quarter. HighTower Advisors LLC now owns 3,646 shares of the industrial products company’s stock worth $342,000 after buying an additional 141 shares during the period. Pathstone Family Office LLC grew its holdings in shares of Franklin Electric by 1.4% during the fourth quarter. Pathstone Family Office LLC now owns 10,314 shares of the industrial products company’s stock valued at $823,000 after buying an additional 141 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Franklin Electric by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 11,179 shares of the industrial products company’s stock valued at $998,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Down 0.1 %

Franklin Electric stock opened at $100.39 on Tuesday. The business’s 50-day moving average price is $101.58 and its 200 day moving average price is $94.85. The company has a quick ratio of 1.20, a current ratio of 2.97 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $107.89.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The firm had revenue of $472.97 million for the quarter, compared to analysts’ expectations of $490.47 million. During the same period last year, the firm earned $0.84 earnings per share. Franklin Electric’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.32 earnings per share for the current year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This is a boost from Franklin Electric’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. Franklin Electric’s dividend payout ratio (DPR) is 24.33%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FELE shares. Robert W. Baird boosted their price target on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Northcoast Research upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Friday, February 23rd. Finally, StockNews.com cut shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Franklin Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Activity at Franklin Electric

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the transaction, the chief executive officer now owns 154,993 shares in the company, valued at $15,493,100.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.72% of the stock is owned by company insiders.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.