Bank of New York Mellon Corp Buys New Stake in Franklin Electric Co., Inc. $FELE

Key Points

• Bank of New York Mellon acquired 310,006 Franklin Electric shares worth approximately $33.2 million, giving it a 0.70% stake. Institutional investors collectively own nearly 80% of FELE.
• Franklin Electric exceeded quarterly expectations, reporting $1.55 EPS and $622.9 million in revenue, up 6% year over year. The company maintained fiscal 2026 EPS guidance of $4.50–$4.70.
• FELE shares opened at $100.56, while analysts maintained a consensus “Hold” rating with an average price target of $114.50; the company also paid a quarterly dividend of $0.28 per share.

Bank of New York Mellon Corp purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 310,006 shares of the industrial products company's stock, valued at approximately $33,230,000. Bank of New York Mellon Corp owned approximately 0.70% of Franklin Electric at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Franklin Electric by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company's stock worth $20,659,000 after acquiring an additional 10,325 shares in the last quarter. Seizert Capital Partners LLC acquired a new stake in shares of Franklin Electric during the fourth quarter worth about $3,760,000. Gamco Investors INC. ET AL lifted its position in shares of Franklin Electric by 4.4% during the first quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company's stock worth $23,653,000 after purchasing an additional 10,858 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of 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 purchasing an additional 52,161 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Franklin Electric by 116.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company's stock valued at $13,562,000 after purchasing an additional 79,222 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Down 1.5%

Franklin Electric stock opened at $100.56 on Friday. Franklin Electric Co., Inc. has a fifty-two week low of $89.54 and a fifty-two week high of $115.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 2.41. The company has a market capitalization of $4.45 billion, a P/E ratio of 28.98, a PEG ratio of 1.83 and a beta of 1.04. The stock has a 50-day simple moving average of $105.17 and a 200-day simple moving average of $100.85.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The firm had revenue of $622.88 million for the quarter, compared to the consensus estimate of $605.92 million. During the same quarter last year, the business posted $1.31 EPS. The firm's quarterly 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 research analysts expect that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 6th. Franklin Electric's dividend payout ratio is presently 32.28%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FELE shares. DA Davidson raised their price target on shares of Franklin Electric from $100.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Robert W. Baird increased their price objective 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 raised Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Franklin Electric has a consensus rating of "Hold" and an average target price of $114.50.

Insiders Place Their Bets

In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 in the company, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.89% of the company's stock.

Franklin Electric Company Profile

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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