Aviva PLC Sells 711 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Aviva PLC trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,724 shares of the industrial products company’s stock after selling 711 shares during the quarter. Aviva PLC’s holdings in Franklin Electric were worth $558,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Franklin Electric by 19.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after buying an additional 451 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Franklin Electric during the 4th quarter worth approximately $241,000. JPMorgan Chase & Co. grew its stake in shares of Franklin Electric by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company’s stock worth $16,174,000 after acquiring an additional 31,937 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Franklin Electric by 9.9% in the third quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company’s stock valued at $1,076,000 after purchasing an additional 914 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in shares of Franklin Electric by 5.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 62,165 shares of the industrial products company’s stock worth $6,058,000 after purchasing an additional 2,939 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Down 2.6 %

Franklin Electric stock opened at $88.56 on Friday. The company has a fifty day simple moving average of $98.22 and a 200 day simple moving average of $100.99. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 1-year low of $82.69 and a 1-year high of $111.94. The company has a market cap of $4.05 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

Franklin Electric (NASDAQ:FELE) last released 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 return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is presently 27.53%.

Insider Activity at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction dated 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 owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.

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.