GAMMA Investing LLC Purchases 191,150 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

GAMMA Investing LLC grew its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 13,673.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,548 shares of the industrial products company's stock after buying an additional 191,150 shares during the quarter. GAMMA Investing LLC owned 0.42% of Franklin Electric worth $18,076,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FELE. Vanguard Group Inc. raised its position in Franklin Electric by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,769,582 shares of the industrial products company's stock valued at $464,796,000 after purchasing an additional 45,174 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after purchasing an additional 143,917 shares during the period. Norges Bank bought a new position in shares of Franklin Electric during the 4th quarter valued at approximately $56,968,000. Northern Trust Corp raised its holdings in Franklin Electric by 11.0% during the 4th quarter. Northern Trust Corp now owns 513,896 shares of the industrial products company's stock valued at $50,079,000 after buying an additional 50,750 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Franklin Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after buying an additional 10,580 shares during the last quarter. Institutional investors own 79.98% of the company's stock.

Wall Street Analysts Forecast Growth

FELE has been the topic of a number of analyst reports. Robert W. Baird cut their price objective on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th.

Insider Buying and Selling

In other Franklin Electric news, Director David M. Wathen sold 24,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $86.10, for a total value of $2,066,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David M. Wathen sold 25,402 shares of Franklin Electric stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $85.22, for a total transaction of $2,164,758.44. Following the sale, the director now directly owns 49,000 shares of the company's stock, valued at $4,175,780. This represents a 34.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,402 shares of company stock valued at $8,529,908 in the last 90 days. Company insiders own 2.72% of the company's stock.

Franklin Electric Trading Up 0.3%

Shares of NASDAQ:FELE traded up $0.29 during trading hours on Monday, hitting $86.83. 237,084 shares of the company's stock traded hands, compared to its average volume of 210,500. The firm has a market capitalization of $3.96 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The business has a fifty day moving average price of $87.34 and a 200-day moving average price of $95.98. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). The business had revenue of $455.25 million for the quarter, compared to analysts' expectations of $471.21 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. Franklin Electric's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. Equities analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, May 8th. Franklin Electric's payout ratio is presently 27.75%.

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.