Schonfeld Strategic Advisors LLC Sells 22,619 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Schonfeld Strategic Advisors LLC reduced its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 86.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,415 shares of the industrial products company's stock after selling 22,619 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Franklin Electric were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FELE. Mariner LLC increased its position in Franklin Electric by 1.8% during the fourth quarter. Mariner LLC now owns 6,471 shares of the industrial products company's stock worth $631,000 after acquiring an additional 116 shares during the period. BHK Investment Advisors LLC raised its position in shares of Franklin Electric by 2.5% in the fourth quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company's stock valued at $501,000 after buying an additional 125 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Franklin Electric by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company's stock valued at $434,000 after buying an additional 145 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Franklin Electric by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,739 shares of the industrial products company's stock valued at $462,000 after buying an additional 150 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of Franklin Electric by 4.1% in the fourth quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company's stock valued at $409,000 after buying an additional 164 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now directly owns 7,701 shares of the company's stock, valued at $794,281.14. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday. Robert W. Baird dropped their target price on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th.

Franklin Electric Stock Up 1.6%

Shares of NASDAQ FELE traded up $1.44 during trading on Friday, hitting $89.96. The stock had a trading volume of 320,731 shares, compared to its average volume of 206,241. The company has a market capitalization of $4.10 billion, a PE ratio of 23.37, a PEG ratio of 2.11 and a beta of 1.08. The firm has a fifty day moving average of $90.86 and a two-hundred day moving average of $98.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. 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 posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). The company 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 quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, May 8th. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.

Franklin Electric 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.