Franklin Electric Co., Inc. (NASDAQ:FELE) Receives $100.00 Average PT from Brokerages

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) have received a consensus rating of “Hold” from the five analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $100.00.

Several analysts have recently weighed in on the company. Robert W. Baird raised their target price on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Finally, Northcoast Research upgraded Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Friday, February 23rd.

Insider Activity

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the sale, the chief executive officer now directly owns 154,993 shares of the company’s stock, valued at $15,493,100.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in shares of Franklin Electric in the 4th quarter worth $26,000. Principal Securities Inc. purchased a new position in Franklin Electric in the 4th quarter worth about $33,000. Point72 Asset Management L.P. acquired a new stake in Franklin Electric during the 4th quarter worth about $34,000. GAMMA Investing LLC lifted its stake in Franklin Electric by 88.0% during the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after buying an additional 147 shares in the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of Franklin Electric in the third quarter worth approximately $37,000. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

FELE stock opened at $100.39 on Friday. The firm has a market cap of $4.62 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.97. Franklin Electric has a 1 year low of $82.61 and a 1 year high of $107.89. The stock has a 50-day simple moving average of $101.58 and a 200-day simple moving average of $94.85.

Franklin Electric (NASDAQ:FELE) last announced 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 during the quarter, compared to analysts’ expectations of $490.47 million. During the same quarter last year, the company posted $0.84 earnings per share. Franklin Electric’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts predict that Franklin Electric will post 4.32 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

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

Franklin Electric Company Profile

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.