David M. Wathen Sells 25,402 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) Stock

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) Director David M. Wathen sold 25,402 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $85.22, for a total value of $2,164,758.44. Following the sale, the director now owns 49,000 shares in the company, valued at $4,175,780. The trade was a 34.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Stock Performance

Shares of NASDAQ FELE traded up $0.85 during trading on Friday, reaching $86.54. 220,602 shares of the company traded hands, compared to its average volume of 210,394. The stock has a market cap of $3.95 billion, a P/E ratio of 22.48, a PEG ratio of 2.11 and a beta of 1.08. The firm's fifty day simple moving average is $87.52 and its 200 day simple moving average is $96.13. 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 Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $471.21 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company's revenue 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. As a group, research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a yield of 1.22%. Franklin Electric's dividend payout ratio is currently 27.75%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FELE. CIBC Asset Management Inc acquired a new stake in shares of Franklin Electric in the fourth quarter worth approximately $241,000. Charles Schwab Investment Management Inc. boosted its stake in Franklin Electric by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after purchasing an additional 10,580 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Franklin Electric by 5.0% during the fourth quarter. GHP Investment Advisors Inc. now owns 62,165 shares of the industrial products company's stock worth $6,058,000 after buying an additional 2,939 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Franklin Electric by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 205,212 shares of the industrial products company's stock valued at $19,998,000 after buying an additional 7,628 shares during the last quarter. Finally, Barclays PLC boosted its position in Franklin Electric by 237.3% during the third quarter. Barclays PLC now owns 87,620 shares of the industrial products company's stock worth $9,184,000 after acquiring an additional 61,640 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FELE has been the subject of several research reports. Robert W. Baird lowered their price objective on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

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.