Franklin Electric Co., Inc. (NASDAQ:FELE) Insider Sells $225,960.84 in Stock

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) insider Delancey W. Davis sold 2,214 shares of the business's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.06, for a total value of $225,960.84. Following the transaction, the insider now owns 8,014 shares of the company's stock, valued at $817,908.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Franklin Electric Price Performance

Shares of FELE stock traded up $0.20 during trading hours on Friday, hitting $102.27. 115,769 shares of the company's stock were exchanged, compared to its average volume of 217,350. Franklin Electric Co., Inc. has a 12-month low of $82.61 and a 12-month high of $107.89. The company has a market capitalization of $4.71 billion, a PE ratio of 25.44, a PEG ratio of 1.95 and a beta of 0.99. The business's 50 day simple moving average is $102.26 and its 200-day simple moving average is $96.51. The company has a current ratio of 2.85, a quick ratio of 1.17 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The business had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The business's revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.27 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.00 annualized dividend and a yield of 0.98%. Franklin Electric's payout ratio is 24.88%.

Analysts Set New Price Targets

FELE has been the subject of several recent analyst reports. Northcoast Research raised Franklin Electric from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Friday, February 23rd. DA Davidson increased their price target on shares of Franklin Electric from $87.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Robert W. Baird lifted their price objective on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Finally, StockNews.com cut Franklin Electric from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Franklin Electric currently has a consensus rating of "Moderate Buy" and an average target price of $100.00.

Institutional Trading of Franklin Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Franklin Electric in the 4th quarter worth approximately $48,711,000. Robeco Schweiz AG boosted its holdings in Franklin Electric by 68.8% in the third quarter. Robeco Schweiz AG now owns 369,996 shares of the industrial products company's stock valued at $33,015,000 after acquiring an additional 150,748 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Franklin Electric by 103.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 207,876 shares of the industrial products company's stock valued at $18,549,000 after purchasing an additional 105,534 shares during the period. UBS Group AG raised its holdings in Franklin Electric by 474.8% in the 4th quarter. UBS Group AG now owns 105,177 shares of the industrial products company's stock worth $10,165,000 after purchasing an additional 86,880 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Franklin Electric in the 4th quarter worth about $6,676,000. Institutional investors own 79.98% of the company's stock.

About Franklin Electric

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.

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