Gabelli Funds LLC Acquires 8,000 Shares of Franklin Electric Co., Inc. $FELE

Gabelli Funds LLC boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 194,000 shares of the industrial products company’s stock after buying an additional 8,000 shares during the period. Gabelli Funds LLC’s holdings in Franklin Electric were worth $17,881,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FELE. Morgan Stanley boosted its holdings in shares of Franklin Electric by 0.5% in the fourth quarter. Morgan Stanley now owns 1,790,205 shares of the industrial products company’s stock valued at $171,019,000 after buying an additional 8,356 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Franklin Electric by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock worth $93,059,000 after acquiring an additional 36,268 shares during the period. Amundi raised its holdings in shares of Franklin Electric by 12.7% during the fourth quarter. Amundi now owns 703,992 shares of the industrial products company’s stock worth $67,243,000 after acquiring an additional 79,511 shares during the period. Invesco Ltd. lifted its position in Franklin Electric by 9.2% in the 2nd quarter. Invesco Ltd. now owns 607,040 shares of the industrial products company’s stock valued at $54,476,000 after acquiring an additional 50,895 shares in the last quarter. Finally, Norges Bank bought a new stake in Franklin Electric in the 4th quarter valued at $50,010,000. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

NASDAQ FELE opened at $105.59 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 12-month low of $89.54 and a 12-month high of $111.53. The company has a market capitalization of $4.66 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. The firm’s 50 day moving average is $102.48 and its 200-day moving average is $100.00.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. The business had revenue of $500.44 million during the quarter, compared to analysts’ expectations of $479.21 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.58 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 21st. Shareholders of record on Thursday, May 7th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.12 annualized dividend and a yield of 1.1%. Franklin Electric’s payout ratio is 33.73%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FELE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a report on Tuesday, June 9th. DA Davidson restated a “neutral” rating and issued a $100.00 price target on shares of Franklin Electric in a report on Tuesday, June 16th. Finally, Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $106.00.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total value of $190,000.00. Following the sale, the insider owned 10,402 shares of the company’s stock, valued at approximately $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the sale, the insider directly owned 7,509 shares in the company, valued at approximately $776,430.60. This represents a 53.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,835 shares of company stock valued at $2,004,982. Company insiders own 2.89% of the company’s stock.

About Franklin Electric

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.