Fenimore Asset Management Inc Reduces Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Fenimore Asset Management Inc trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 138,194 shares of the industrial products company’s stock after selling 5,701 shares during the quarter. Fenimore Asset Management Inc’s holdings in Franklin Electric were worth $13,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares during the period. Trust Co. of Vermont purchased a new position in Franklin Electric during the fourth quarter worth $40,000. CWM LLC increased its position in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 98 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Franklin Electric in the third quarter valued at $74,000. Finally, Signaturefd LLC lifted its holdings in shares of Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 164 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE stock opened at $98.57 on Friday. The stock has a 50 day moving average price of $101.73 and a 200 day moving average price of $101.77. The firm has a market capitalization of $4.50 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. Franklin Electric Co., Inc. has a 52-week low of $91.67 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The company had revenue of $531.40 million for 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 firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 earnings per share. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Franklin Electric’s dividend payout ratio is currently 25.32%.

Wall Street Analyst Weigh In

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

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.