Renaissance Technologies LLC Sells 4,400 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Renaissance Technologies LLC lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,100 shares of the industrial products company's stock after selling 4,400 shares during the period. Renaissance Technologies LLC's holdings in Franklin Electric were worth $1,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FELE. Spire Wealth Management bought a new position in shares of Franklin Electric in the 4th quarter worth $29,000. Trust Co. of Vermont bought a new stake in Franklin Electric during the fourth quarter worth about $40,000. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after purchasing an additional 198 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Franklin Electric by 189.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 420 shares during the last quarter. Finally, ORG Partners LLC lifted its position in Franklin Electric by 150.2% in the 4th quarter. ORG Partners LLC now owns 833 shares of the industrial products company's stock worth $81,000 after buying an additional 500 shares during the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Trading Up 0.1 %

FELE traded up $0.12 during trading on Monday, hitting $88.47. 10,330 shares of the stock traded hands, compared to its average volume of 262,962. 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 Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.94. The firm has a market capitalization of $4.05 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The firm has a 50-day moving average of $93.47 and a 200 day moving average of $99.04.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). The company 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 firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Thursday, May 8th. Franklin Electric's dividend payout ratio is presently 27.75%.

Insider Buying and Selling

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on FELE shares. Robert W. Baird reduced their price target on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. StockNews.com lowered Franklin Electric from a "buy" rating to a "hold" rating in a research report on Thursday.

Franklin Electric 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.