Tudor Investment Corp ET AL cut its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 86.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,449 shares of the industrial products company's stock after selling 54,966 shares during the quarter. Tudor Investment Corp ET AL's holdings in Franklin Electric were worth $823,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Spire Wealth Management purchased a new stake in Franklin Electric during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new stake in Franklin Electric in the 4th quarter valued at about $40,000. Blue Trust Inc. increased its holdings in Franklin Electric by 66.2% during the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 198 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock worth $62,000 after acquiring an additional 420 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of Franklin Electric by 150.2% in the fourth quarter. ORG Partners LLC now owns 833 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on FELE shares. Robert W. Baird dropped their price objective on shares of 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 downgraded Franklin Electric from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st.
Get Our Latest Report on Franklin Electric
Insider Activity
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 shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company's stock.
Franklin Electric Trading Down 0.8 %
NASDAQ:FELE traded down $0.74 on Friday, reaching $86.93. The stock had a trading volume of 163,453 shares, compared to its average volume of 203,304. Franklin Electric Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.94. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 2.11 and a beta of 1.08. The firm's fifty day moving average is $92.06 and its two-hundred day moving average is $98.51. 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 announced 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). The firm had revenue of $455.25 million for the quarter, compared to analysts' expectations of $471.21 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The business's quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. Equities analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 8th. Franklin Electric's payout ratio is 27.75%.
About Franklin Electric
(
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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