Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,272 shares of the industrial products company's stock after purchasing an additional 3,235 shares during the quarter. Balyasny Asset Management L.P. owned 0.07% of Franklin Electric worth $3,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Franklin Electric in the fourth quarter valued at approximately $56,968,000. Allianz Asset Management GmbH lifted its holdings in Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock valued at $79,098,000 after acquiring an additional 143,917 shares during the period. Proficio Capital Partners LLC acquired a new position in Franklin Electric in the fourth quarter valued at approximately $134,000. JPMorgan Chase & Co. lifted its holdings in Franklin Electric by 60.1% in the fourth quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company's stock valued at $24,080,000 after acquiring an additional 92,793 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in Franklin Electric in the fourth quarter valued at approximately $8,046,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Price Performance

Shares of FELE stock traded up $1.44 during trading hours on Friday, hitting $89.96. 320,731 shares of the company's stock were exchanged, compared to its average volume of 206,241. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.10 billion, a P/E ratio of 23.37, a P/E/G ratio of 2.11 and a beta of 1.08. The firm has a 50 day moving average of $90.86 and a two-hundred day moving average of $98.14. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced 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). The business had revenue of $455.25 million for the quarter, compared to analyst estimates of $471.21 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, May 8th. Franklin Electric's payout ratio is 27.75%.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the business'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 sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FELE. Robert W. Baird decreased their price target on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. StockNews.com upgraded Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday.

Franklin Electric 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.