Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) Director David M. Wathen sold 24,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $86.10, for a total transaction of $2,066,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Franklin Electric Price Performance
Shares of Franklin Electric stock traded up $0.38 on Friday, hitting $86.07. The company's stock had a trading volume of 68,768 shares, compared to its average volume of 209,452. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The firm has a fifty day moving average price of $87.69 and a 200-day moving average price of $96.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company had revenue of $455.25 million for the quarter, compared to analysts' expectations of $471.21 million. During the same period in the prior year, the firm earned $0.70 EPS. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.
Franklin Electric Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 annualized dividend and a yield of 1.23%. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.
Institutional Investors Weigh In On Franklin Electric
Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its stake in Franklin Electric by 168.5% during the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Franklin Electric in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in Franklin Electric during the first quarter worth approximately $46,000. Blue Trust Inc. boosted its stake in Franklin Electric by 66.2% during the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after buying an additional 198 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Franklin Electric in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 79.98% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on FELE shares. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Robert W. Baird cut their price target on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th.
Check Out Our Latest Report on FELE
About Franklin Electric
(
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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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