Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 17.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,438 shares of the industrial products company’s stock after selling 1,117 shares during the quarter. Pitcairn Co.’s holdings in Franklin Electric were worth $570,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FELE. Van ECK Associates Corp increased its stake in Franklin Electric by 40.0% during the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares during the period. SG Americas Securities LLC grew its holdings in shares of Franklin Electric by 357.6% in the second quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock valued at $889,000 after purchasing an additional 7,213 shares in the last quarter. Blue Trust Inc. increased its stake in Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares during the period. MQS Management LLC acquired a new stake in Franklin Electric during the 3rd quarter worth approximately $646,000. Finally, Edgestream Partners L.P. boosted its position in Franklin Electric by 328.4% in the 2nd quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock valued at $6,206,000 after buying an additional 49,391 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Up 1.2 %

FELE stock opened at $110.40 on Tuesday. Franklin Electric Co., Inc. has a fifty-two week low of $87.65 and a fifty-two week high of $111.94. The company’s 50 day moving average price is $104.10 and its 200 day moving average price is $100.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.39 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares in the company, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.72% 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.