Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Bought by Ethic Inc.

Ethic Inc. raised its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 53.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,583 shares of the industrial products company’s stock after buying an additional 1,953 shares during the quarter. Ethic Inc.’s holdings in Franklin Electric were worth $544,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spire Wealth Management acquired a new stake in shares of Franklin Electric during the 4th quarter worth about $29,000. Trust Co. of Vermont purchased a new position in Franklin Electric in the fourth quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings in Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after buying an additional 198 shares during the period. Smartleaf Asset Management LLC raised its holdings in Franklin Electric by 189.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after buying an additional 420 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Franklin Electric during the fourth quarter valued at approximately $127,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Price Performance

Shares of Franklin Electric stock opened at $88.52 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 company’s 50-day moving average price is $91.08 and its two-hundred day moving average price is $98.17. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The stock has a market cap of $4.04 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last released its earnings results 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 business had revenue of $455.25 million for the quarter, compared to analysts’ expectations of $471.21 million. During the same period last year, the firm earned $0.70 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Announces Dividend

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 given a dividend of $0.265 per share. 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 1.20%. Franklin Electric’s payout ratio is currently 27.75%.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 directly owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird decreased their price objective on shares of Franklin Electric from $111.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th.

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.