Insider Selling: Franklin Electric Co., Inc. (NASDAQ:FELE) Director Sells 25,402 Shares of Stock

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) Director David M. Wathen sold 25,402 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $85.22, for a total transaction of $2,164,758.44. Following the completion of the sale, the director now owns 49,000 shares in the company, valued at approximately $4,175,780. The trade was a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 value of $2,066,400.00.

Franklin Electric Trading Up 0.4%

FELE traded up $0.39 during midday trading on Friday, hitting $86.08. 84,171 shares of the company were exchanged, compared to its average volume of 209,503. The firm's 50 day moving average price is $87.69 and its 200-day moving average price is $96.40. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year high of $111.94. The firm has a market capitalization of $3.92 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a quick ratio of 1.06, a current ratio of 2.22 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 (EPS) 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 company had revenue of $455.25 million for the quarter, compared to the consensus estimate of $471.21 million. During the same quarter last year, the business earned $0.70 earnings per share. Franklin Electric's revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, May 8th. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FELE. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Robert W. Baird decreased their price target 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.

Hedge Funds Weigh In On Franklin Electric

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Franklin Electric in the 4th quarter worth about $56,968,000. Nuveen LLC acquired a new stake in Franklin Electric during the first quarter worth approximately $41,837,000. GAMMA Investing LLC increased its holdings in Franklin Electric by 13,673.1% in the first quarter. GAMMA Investing LLC now owns 192,548 shares of the industrial products company's stock worth $18,076,000 after purchasing an additional 191,150 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after purchasing an additional 143,917 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Franklin Electric in the fourth quarter valued at approximately $134,000. Institutional investors and hedge funds 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.