Franklin Electric (NASDAQ:FELE) Given New $94.00 Price Target at Robert W. Baird

Franklin Electric (NASDAQ:FELE - Free Report) had its target price cut by Robert W. Baird from $111.00 to $94.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Franklin Electric Trading Down 0.8 %

Shares of FELE traded down $0.67 during trading hours on Wednesday, hitting $87.68. 211,415 shares of the stock were exchanged, compared to its average volume of 203,004. The firm has a market capitalization of $4.01 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. Franklin Electric has a fifty-two week low of $78.87 and a fifty-two week high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The business 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 released its quarterly 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 company had revenue of $455.25 million during the quarter, compared to analysts' expectations of $471.21 million. During the same period in the previous year, the company posted $0.70 earnings per share. The company's quarterly revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that Franklin Electric 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. Investors 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 yield of 1.21%. The ex-dividend date is Thursday, May 8th. Franklin Electric's payout ratio is presently 27.75%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm'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 transaction of $99,117.54. Following the completion of the transaction, the insider now owns 7,701 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.72% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mariner LLC raised its holdings in Franklin Electric by 1.8% in the 4th quarter. Mariner LLC now owns 6,471 shares of the industrial products company's stock worth $631,000 after purchasing an additional 116 shares during the period. BHK Investment Advisors LLC raised its position in shares of Franklin Electric by 2.5% during the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company's stock valued at $501,000 after buying an additional 125 shares in the last quarter. Captrust Financial Advisors increased its position in Franklin Electric by 0.4% during the fourth quarter. Captrust Financial Advisors now owns 31,879 shares of the industrial products company's stock valued at $3,107,000 after acquiring an additional 137 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Franklin Electric by 3.4% during the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company's stock valued at $434,000 after buying an additional 145 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Franklin Electric by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,739 shares of the industrial products company's stock worth $462,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 79.98% 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.