Jane Street Group LLC Sells 37,895 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Jane Street Group LLC decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 76.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,955 shares of the industrial products company's stock after selling 37,895 shares during the period. Jane Street Group LLC's holdings in Franklin Electric were worth $1,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in FELE. CIBC Asset Management Inc bought a new stake in Franklin Electric in the fourth quarter valued at $241,000. Charles Schwab Investment Management Inc. lifted its position in Franklin Electric by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock valued at $49,093,000 after buying an additional 10,580 shares during the period. GHP Investment Advisors Inc. lifted its position in Franklin Electric by 5.0% during the fourth quarter. GHP Investment Advisors Inc. now owns 62,165 shares of the industrial products company's stock valued at $6,058,000 after buying an additional 2,939 shares during the period. Running Oak Capital LLC lifted its position in Franklin Electric by 5.6% during the fourth quarter. Running Oak Capital LLC now owns 132,264 shares of the industrial products company's stock valued at $12,889,000 after buying an additional 7,053 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Franklin Electric by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 205,212 shares of the industrial products company's stock valued at $19,998,000 after buying an additional 7,628 shares during the period. Institutional investors own 79.98% of the company's stock.

Analysts Set New Price Targets

FELE has been the subject of several recent research reports. Robert W. Baird lowered their price objective on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

Insider Activity at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the transaction, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Performance

NASDAQ FELE traded down $1.63 during trading hours on Monday, hitting $84.72. The company's stock had a trading volume of 181,834 shares, compared to its average volume of 207,606. The company's 50 day simple moving average is $89.34 and its two-hundred day simple moving average is $97.44. The company has a market cap of $3.86 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month 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 released its quarterly earnings results 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 firm had revenue of $455.25 million for the quarter, compared to the consensus estimate of $471.21 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. As a group, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.25%. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.

About Franklin Electric

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.