GAMMA Investing LLC Boosts Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of Franklin Electric by 30.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,059 shares of the industrial products company's stock valued at $298,000 after buying an additional 710 shares during the last quarter. Brucke Financial Inc. acquired a new stake in Franklin Electric during the fourth quarter worth about $306,000. Public Employees Retirement System of Ohio acquired a new stake in Franklin Electric during the fourth quarter worth about $52,000. Vise Technologies Inc. raised its position in Franklin Electric by 32.8% during the fourth quarter. Vise Technologies Inc. now owns 6,907 shares of the industrial products company's stock valued at $673,000 after acquiring an additional 1,704 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Franklin Electric by 9.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 126,300 shares of the industrial products company's stock valued at $12,308,000 after acquiring an additional 11,426 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Franklin Electric

In related 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 transaction of $2,066,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Wathen sold 25,402 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 49,000 shares of the company's stock, valued at approximately $4,175,780. The trade was a 34.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,402 shares of company stock valued at $8,529,908. 2.72% of the stock is owned by insiders.

Franklin Electric Price Performance

Shares of NASDAQ:FELE traded up $0.85 during trading on Friday, reaching $86.54. 220,602 shares of the company's stock traded hands, compared to its average volume of 210,037. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $111.94. The company has a 50-day simple moving average of $87.52 and a 200-day simple moving average of $96.27. The firm has a market cap of $3.95 billion, a PE ratio of 22.48, a P/E/G ratio of 2.11 and a beta of 1.08.

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

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Thursday, May 8th. Franklin Electric's payout ratio is 27.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Robert W. Baird dropped 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 note on Wednesday, April 30th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

Franklin Electric Company 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.