David M. Wathen Sells 25,000 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) Director David M. Wathen sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $85.25, for a total transaction of $2,131,250.00. Following the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $2,046,000. This trade represents a 51.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

David M. Wathen also recently made the following trade(s):

• On Wednesday, June 4th, David M. Wathen sold 24,000 shares of Franklin Electric stock. The shares were sold at an average price of $86.10, for a total transaction of $2,066,400.00.

Franklin Electric Stock Up 1.0%

Shares of NASDAQ:FELE opened at $86.54 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The company has a 50 day moving average price of $87.52 and a two-hundred day moving average price of $96.27. The company has a market capitalization of $3.95 billion, a PE ratio of 22.48, a PEG ratio of 2.11 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last posted its earnings results 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). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $455.25 million for the quarter, compared to the consensus estimate of $471.21 million. During the same period in the previous year, the company posted $0.70 earnings per share. Franklin Electric’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, May 8th. Franklin Electric’s dividend payout ratio is 27.75%.

Institutional Trading of Franklin Electric

A number of institutional investors have recently modified their holdings of FELE. Mariner LLC grew its holdings in shares of Franklin Electric by 1.8% during the fourth quarter. Mariner LLC now owns 6,471 shares of the industrial products company’s stock worth $631,000 after buying an additional 116 shares in the last quarter. BHK Investment Advisors LLC boosted its position in 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 acquiring an additional 125 shares during the last quarter. Humankind Investments LLC grew its stake in shares of Franklin Electric by 3.4% during the 1st quarter. Humankind Investments LLC now owns 3,918 shares of the industrial products company’s stock worth $368,000 after acquiring an additional 127 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Franklin Electric by 0.4% in the fourth quarter. Captrust Financial Advisors now owns 31,879 shares of the industrial products company’s stock valued at $3,107,000 after purchasing an additional 137 shares during the last quarter. Finally, Brucke Financial Inc. lifted its position in shares of Franklin Electric by 4.5% in the first quarter. Brucke Financial Inc. now owns 3,202 shares of the industrial products company’s stock worth $301,000 after purchasing an additional 137 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th.

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.