Franklin Electric Co., Inc. (NASDAQ:FELE) Director Sells $2,066,400.00 in Stock

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) Director David M. Wathen sold 24,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $86.10, for a total value of $2,066,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Franklin Electric Price Performance

FELE traded up $0.85 during trading on Friday, reaching $86.54. The stock had a trading volume of 220,602 shares, compared to its average volume of 210,394. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. 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 1-year low of $78.87 and a 1-year high of $111.94. The stock has a 50 day moving average of $87.52 and a two-hundred day moving average of $96.13.

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

Franklin Electric Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Robert W. Baird reduced 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.

Institutional Investors Weigh In On Franklin Electric

A number of institutional investors have recently added to or reduced their stakes in FELE. Blue Trust Inc. lifted its position in Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after purchasing an additional 198 shares during the period. Spire Wealth Management bought a new position in shares of Franklin Electric in the fourth quarter valued at $29,000. Longboard Asset Management LP bought a new position in shares of Franklin Electric in the fourth quarter valued at $200,000. GHP Investment Advisors Inc. increased its holdings in shares of Franklin Electric by 5.0% in 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 in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Franklin Electric in the fourth quarter valued at $535,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

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.