Franklin Electric Co., Inc. (NASDAQ:FELE) Stock Position Reduced by Trust Point Inc.

Trust Point Inc. trimmed its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,043 shares of the industrial products company’s stock after selling 1,198 shares during the quarter. Trust Point Inc.’s holdings in Franklin Electric were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Franklin Electric by 2.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock worth $212,810,000 after purchasing an additional 40,248 shares during the period. Geode Capital Management LLC raised its stake in Franklin Electric by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock worth $105,264,000 after acquiring an additional 9,170 shares during the period. Boston Trust Walden Corp lifted its holdings in Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 3,847 shares during the last quarter. KBC Group NV boosted its stake in Franklin Electric by 7.3% in the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock valued at $40,459,000 after acquiring an additional 28,121 shares during the period. Finally, Tributary Capital Management LLC grew its holdings in shares of Franklin Electric by 1.2% during the fourth quarter. Tributary Capital Management LLC now owns 181,123 shares of the industrial products company’s stock valued at $17,650,000 after purchasing an additional 2,212 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Trading Up 0.5 %

Shares of NASDAQ:FELE opened at $99.78 on Wednesday. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.56 billion, a PE ratio of 25.26, a P/E/G ratio of 1.96 and a beta of 1.00. The company’s 50-day moving average price is $100.64 and its 200 day moving average price is $101.75.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.06%. Franklin Electric’s payout ratio is currently 25.32%.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research 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.