Franklin Electric Co., Inc. (NASDAQ:FELE) Director Sells $2,131,250.00 in Stock

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) Director David M. Wathen sold 25,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $85.25, for a total value of $2,131,250.00. Following the completion of the sale, the director now directly owns 24,000 shares in the company, valued at $2,046,000. This trade represents a 51.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

David M. Wathen also recently made the following trade(s):

• On Wednesday, June 4th, David M. Wathen sold 24,000 shares of Franklin Electric stock. The shares were sold at an average price of $86.10, for a total transaction of $2,066,400.00.

Franklin Electric Trading Up 0.4%

Shares of Franklin Electric stock traded up $0.37 on Friday, hitting $86.06. The stock had a trading volume of 68,768 shares, compared to its average volume of 209,452. The stock has a 50 day moving average of $87.69 and a 200 day moving average of $96.40. The firm has a market capitalization of $3.92 billion, a P/E ratio of 22.34, a PEG ratio of 2.11 and a beta of 1.08. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $111.94. 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 (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results 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 business had revenue of $455.25 million for the quarter, compared to the consensus estimate of $471.21 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. Franklin Electric's revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 EPS. Sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, May 8th. Franklin Electric's dividend payout ratio is currently 27.75%.

Analysts Set New Price Targets

FELE has been the subject of several research reports. Wall Street Zen raised 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 objective on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Franklin Electric in the first quarter valued at $1,211,000. Intech Investment Management LLC lifted its stake in shares of Franklin Electric by 11.4% in the 1st quarter. Intech Investment Management LLC now owns 36,294 shares of the industrial products company's stock valued at $3,407,000 after purchasing an additional 3,717 shares during the period. Jane Street Group LLC boosted its position in shares of Franklin Electric by 491.0% during the 1st quarter. Jane Street Group LLC now owns 70,660 shares of the industrial products company's stock valued at $6,634,000 after purchasing an additional 58,705 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Franklin Electric by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company's stock worth $12,877,000 after purchasing an additional 10,862 shares during the period. Finally, United Services Automobile Association bought a new stake in Franklin Electric in the first quarter worth approximately $243,000. 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.