28,550 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,550 shares of the industrial products company’s stock, valued at approximately $2,782,000. Raymond James Financial Inc. owned about 0.06% of Franklin Electric as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in Franklin Electric in the fourth quarter valued at approximately $56,968,000. Allianz Asset Management GmbH lifted its position in shares of Franklin Electric by 21.6% during the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock valued at $79,098,000 after buying an additional 143,917 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Franklin Electric in the 4th quarter worth about $134,000. JPMorgan Chase & Co. raised its stake in Franklin Electric by 60.1% in the 4th quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company’s stock valued at $24,080,000 after acquiring an additional 92,793 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in Franklin Electric during the fourth quarter valued at about $8,046,000. 79.98% of the stock is owned by institutional investors.

Franklin Electric Price Performance

FELE opened at $88.65 on Tuesday. The firm has a 50-day moving average price of $94.96 and a 200-day moving average price of $99.59. Franklin Electric Co., Inc. has a twelve month low of $82.69 and a twelve month high of $111.94. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.11 and a beta of 1.02.

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

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.20%. Franklin Electric’s payout ratio is presently 27.53%.

Insider Activity

In related news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the transaction, the insider now owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.72% of the company’s stock.

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.