Brevan Howard Capital Management LP Has $207,000 Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Brevan Howard Capital Management LP trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 76.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,124 shares of the industrial products company’s stock after selling 6,844 shares during the period. Brevan Howard Capital Management LP’s holdings in Franklin Electric were worth $207,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FELE. Spire Wealth Management acquired a new stake in Franklin Electric during the fourth quarter worth about $29,000. Trust Co. of Vermont acquired a new stake in shares of Franklin Electric in the 4th quarter valued at approximately $40,000. Blue Trust Inc. boosted its stake in shares of Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 198 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Franklin Electric by 189.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 420 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Franklin Electric in the 4th quarter valued at approximately $127,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Trading Up 3.2%

FELE opened at $89.69 on Tuesday. The company’s 50 day moving average is $91.84 and its 200-day moving average is $98.40. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year high of $111.94. 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 company has a market cap of $4.09 billion, a P/E ratio of 23.30, a PEG ratio of 2.11 and a beta of 1.08.

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

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a yield of 1.18%. Franklin Electric’s dividend payout ratio (DPR) is presently 27.75%.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm’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 in the company, valued at approximately $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 can be accessed through this link. 2.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

FELE has been the topic of a number of research analyst reports. Robert W. Baird reduced their price target on shares of Franklin Electric from $111.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. StockNews.com downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st.

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.