Franklin Electric Co., Inc. (NASDAQ:FELE) Declares Quarterly Dividend of $0.27

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) declared a quarterly dividend on Friday, May 2nd, RTT News reports. Stockholders of record on Thursday, May 8th will be given a dividend of 0.265 per share by the industrial products company on Thursday, May 22nd. This represents a $1.06 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 8th.

Franklin Electric has increased its dividend by an average of 12.6% annually over the last three years and has raised its dividend every year for the last 33 years. Franklin Electric has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Franklin Electric to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 22.8%.

Franklin Electric Trading Up 3.5 %

FELE stock traded up $3.00 during mid-day trading on Friday, reaching $88.35. 208,980 shares of the stock traded hands, compared to its average volume of 202,812. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The stock has a market capitalization of $4.04 billion, a PE ratio of 22.95, a PEG ratio of 2.11 and a beta of 1.02. Franklin Electric has a one year low of $78.87 and a one year high of $111.94. The business has a 50-day moving average price of $93.47 and a two-hundred day moving average price of $99.13.

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 net margin of 8.92% and a return on equity of 14.46%. The business had revenue of $455.25 million for the quarter, compared to the consensus estimate of $471.21 million. During the same period in the prior year, the company posted $0.70 EPS. The company's quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts expect that Franklin Electric will post 4.19 EPS for the current year.

Analyst Ratings Changes

FELE has been the topic of a number of research analyst reports. 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. StockNews.com lowered shares of Franklin Electric from a "buy" rating to a "hold" rating in a research report on Thursday.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of the firm's stock in a transaction 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 transaction, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.72% of the company's stock.

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.