Harbor Capital Advisors Inc. Has $949,000 Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Harbor Capital Advisors Inc. raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 6,733.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 10,113 shares of the industrial products company’s stock after purchasing an additional 9,965 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Franklin Electric were worth $949,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Mariner LLC increased its stake in shares of Franklin Electric by 1.8% during the 4th quarter. Mariner LLC now owns 6,471 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 116 shares during the last quarter. BHK Investment Advisors LLC boosted its holdings in shares of Franklin Electric by 2.5% during the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock worth $501,000 after buying an additional 125 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Franklin Electric by 0.4% during the 4th quarter. Captrust Financial Advisors now owns 31,879 shares of the industrial products company’s stock worth $3,107,000 after buying an additional 137 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Franklin Electric by 3.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock worth $434,000 after buying an additional 145 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Franklin Electric by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,739 shares of the industrial products company’s stock worth $462,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Trading Down 2.0%

FELE opened at $84.61 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.86 billion, a PE ratio of 21.98, a PEG ratio of 2.11 and a beta of 1.08. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year high of $111.94. The firm has a 50-day moving average price of $87.25 and a two-hundred day moving average price of $95.69.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, May 8th. Franklin Electric’s dividend payout ratio is 27.75%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, Director David M. Wathen sold 24,000 shares of Franklin Electric stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $86.10, for a total value of $2,066,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David M. Wathen sold 25,402 shares of Franklin Electric stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $85.22, for a total transaction of $2,164,758.44. Following the completion of the transaction, the director now directly owns 49,000 shares in the company, valued at approximately $4,175,780. The trade was a 34.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,402 shares of company stock worth $8,529,908 in the last quarter. 2.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Robert W. Baird dropped their target price on shares of Franklin Electric from $111.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th.

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.