Bank of America Corp DE Purchases Shares of 774,048 Franklin Electric Co., Inc. $FELE

Key Points

• Bank of America acquired 774,048 Franklin Electric shares worth approximately $83.0 million, representing about 1.75% of the company. Institutional investors collectively own nearly 80% of FELE.
• Franklin Electric recently exceeded quarterly expectations, reporting $1.55 in EPS and $622.9 million in revenue, while revenue increased 6% year over year. Management guided for fiscal 2026 EPS of $4.50–$4.70.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and a $114.50 price target. The company also pays a quarterly dividend of $0.28, equal to a 1.2% annualized yield.

Bank of America Corp DE purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 774,048 shares of the industrial products company's stock, valued at approximately $82,970,000. Bank of America Corp DE owned about 1.75% of Franklin Electric as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Gamco Investors INC. ET AL increased its holdings in shares of Franklin Electric by 4.4% in the first quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company's stock valued at $23,653,000 after purchasing an additional 10,858 shares during the period. Principal Financial Group Inc. raised its stake in shares of Franklin Electric by 4.8% in the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company's stock worth $20,659,000 after purchasing an additional 10,325 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Franklin Electric by 116.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company's stock worth $13,562,000 after purchasing an additional 79,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Franklin Electric by 58.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,338 shares of the industrial products company's stock worth $13,027,000 after purchasing an additional 52,161 shares during the period. Finally, Medina Value Partners LLC purchased a new stake in Franklin Electric in the second quarter valued at approximately $25,122,549. Institutional investors and hedge funds own 79.98% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on FELE shares. Robert W. Baird upped their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $105.00 price target on shares of Franklin Electric in a report on Wednesday, September 9th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $114.50.

Franklin Electric Stock Down 0.7%

Franklin Electric stock opened at $95.51 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. The stock has a market capitalization of $4.22 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. The business has a 50 day simple moving average of $103.06 and a 200-day simple moving average of $100.48. Franklin Electric Co., Inc. has a 12 month low of $89.54 and a 12 month 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 for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. The company had revenue of $622.88 million during the quarter, compared to analysts' expectations of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. On average, analysts anticipate that Franklin Electric Co., Inc. will post 4.65 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.2%. Franklin Electric's payout ratio is currently 32.28%.

Franklin Electric Company Profile

Franklin Electric Co, Inc designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. Its products include submersible motors, pumps, drives, controls, pumping equipment, water-treatment systems and related accessories for residential, agricultural, commercial and municipal applications.

The company also supplies equipment for the fueling industry through products such as underground fuel pumps, piping systems, fuel-management equipment and leak-detection technologies.

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