Corebridge Financial Inc. Sells 1,859 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Corebridge Financial Inc. trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,908 shares of the industrial products company’s stock after selling 1,859 shares during the period. Corebridge Financial Inc. owned 0.05% of Franklin Electric worth $2,330,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FELE. BHK Investment Advisors LLC raised its holdings in shares of Franklin Electric by 2.5% in the fourth quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock valued at $501,000 after buying an additional 125 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Franklin Electric by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 145 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Franklin Electric by 2.6% during the third quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after purchasing an additional 156 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Franklin Electric by 4.1% during the fourth quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 164 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Franklin Electric by 14.5% in the fourth quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Up 1.3 %

NASDAQ:FELE opened at $95.11 on Wednesday. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 2.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The stock’s fifty day moving average price is $100.10 and its two-hundred day moving average price is $101.79. Franklin Electric Co., Inc. has a 52-week low of $91.67 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. The business had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. On average, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date was Thursday, February 6th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.11%. Franklin Electric’s dividend payout ratio (DPR) is presently 27.53%.

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.