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 business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $85.25, for a total transaction of $2,131,250.00. Following the completion of the transaction, the director now directly owns 24,000 shares of the company's stock, valued at $2,046,000. This trade represents a 51.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $86.10, for a total transaction of $2,066,400.00.

Franklin Electric Price Performance

Shares of Franklin Electric stock traded up $0.85 during trading hours on Friday, reaching $86.54. The stock had a trading volume of 220,602 shares, compared to its average volume of 210,394. The stock's 50 day moving average is $87.52 and its 200 day moving average is $96.13. The firm has a market capitalization of $3.95 billion, a PE ratio of 22.48, 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 current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

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 for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. During the same quarter last year, the company posted $0.70 EPS. The company's revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.06 annualized dividend and a dividend yield of 1.22%. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FELE. Blue Trust Inc. raised its position in shares of Franklin Electric by 66.2% during 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 during the last quarter. Spire Wealth Management acquired a new position in shares of Franklin Electric during the 4th quarter worth about $29,000. Longboard Asset Management LP acquired a new position in shares of Franklin Electric during the 4th quarter worth about $200,000. GHP Investment Advisors Inc. grew its stake in Franklin Electric by 5.0% during the 4th quarter. GHP Investment Advisors Inc. now owns 62,165 shares of the industrial products company's stock valued at $6,058,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Franklin Electric during the 4th quarter valued at about $535,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FELE shares. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Robert W. Baird decreased their target price on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th.

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.