Bank of America Corp DE Buys 81,988 Shares of Franklin Electric Co., Inc. $FELE

Key Points

• Bank of America increased its Franklin Electric stake by 11% in the first quarter, buying 81,988 shares and bringing its holdings to 824,085 shares worth approximately $76.0 million. Institutional investors collectively own nearly 80% of FELE.
• Franklin Electric exceeded quarterly expectations, reporting EPS of $1.55 versus the $1.44 consensus and revenue of $622.9 million, up 6% year over year. The company guided for fiscal 2026 EPS of $4.50–$4.70.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and a $114.50 price target. Meanwhile, insiders sold 14,647 shares worth about $1.49 million over the past 90 days, and the company declared a quarterly dividend of $0.28 per share.

Bank of America Corp DE increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 824,085 shares of the industrial products company's stock after purchasing an additional 81,988 shares during the period. Bank of America Corp DE owned 1.87% of Franklin Electric worth $75,956,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FELE. Amundi lifted its position in Franklin Electric by 25.2% during the 1st quarter. Amundi now owns 881,425 shares of the industrial products company's stock valued at $81,225,000 after purchasing an additional 177,433 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Franklin Electric by 21.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 977 shares of the industrial products company's stock worth $90,000 after buying an additional 175 shares during the period. California State Teachers Retirement System raised its stake in shares of Franklin Electric by 28.7% during the first quarter. California State Teachers Retirement System now owns 46,130 shares of the industrial products company's stock worth $4,252,000 after buying an additional 10,276 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Franklin Electric by 149.1% during the first quarter. Quantinno Capital Management LP now owns 20,549 shares of the industrial products company's stock worth $1,894,000 after buying an additional 12,300 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Franklin Electric by 58.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,338 shares of the industrial products company's stock valued at $13,027,000 after buying an additional 52,161 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Wall Street Analysts Forecast Growth

FELE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Robert W. Baird upped their price target on Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Finally, DA Davidson lifted their price objective on shares of Franklin Electric from $100.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $114.50.

Insiders Place Their Bets

In other news, insider Jonathan M. Grandon sold 8,547 shares of the 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 transaction, the insider directly owned 7,509 shares of the company's stock, valued at $776,430.60. This represents a 53.23% 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 this link. Also, insider Delancey W. Davis sold 1,900 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the sale, the insider owned 10,402 shares of the company's stock, valued at $1,040,200. This trade represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,647 shares of company stock worth $1,486,326. 2.89% of the stock is owned by company insiders.

Franklin Electric Price Performance

FELE stock opened at $109.46 on Monday. The stock has a 50-day moving average price of $104.32 and a two-hundred day moving average price of $100.55. The stock has a market cap of $4.84 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 1 year low of $89.54 and a 1 year high of $115.82.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company had revenue of $622.88 million for the quarter, compared to the consensus estimate of $605.92 million. During the same period last year, the company earned $1.31 earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Equities analysts forecast that Franklin Electric Co., Inc. will post 4.65 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, August 6th. Franklin Electric's dividend payout ratio is 32.28%.

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.

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