ProShare Advisors LLC increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,690 shares of the industrial products company's stock after buying an additional 3,506 shares during the period. ProShare Advisors LLC owned 0.19% of Franklin Electric worth $8,350,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of FELE. Norges Bank bought a new stake in Franklin Electric during the fourth quarter worth about $56,968,000. Allianz Asset Management GmbH lifted its holdings in shares of Franklin Electric by 21.6% during the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock valued at $79,098,000 after purchasing an additional 143,917 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Franklin Electric in the 4th quarter worth approximately $134,000. JPMorgan Chase & Co. grew its stake in shares of Franklin Electric by 60.1% in the 4th quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company's stock worth $24,080,000 after buying an additional 92,793 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Franklin Electric in the 4th quarter worth approximately $8,046,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have issued reports on FELE shares. 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 note on Wednesday, April 30th. StockNews.com raised Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.
Get Our Latest Research Report on FELE
Insider Buying and Selling
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the transaction, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is owned by corporate insiders.
Franklin Electric Stock Down 0.7%
Shares of NASDAQ FELE traded down $0.61 during midday trading on Tuesday, hitting $88.74. The stock had a trading volume of 145,662 shares, compared to its average volume of 206,320. The business's 50 day moving average is $90.65 and its 200-day moving average is $98.10. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.05 billion, a P/E ratio of 23.05, a PEG ratio of 2.11 and a beta of 1.08.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The business had revenue of $455.25 million during the quarter, compared to the consensus estimate of $471.21 million. During the same period last year, the company posted $0.70 earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. As a group, analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.
Franklin Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.06 annualized dividend and a dividend yield of 1.19%. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.
Franklin Electric Profile
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Free Report)
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.
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