Insider Selling: Franklin Electric Co. CEO Sells 10,400 Shares of Stock (FELE)
Franklin Electric Co. (NASDAQ:FELE) CEO R Scott Trumbull sold 10,400 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $37.84, for a total value of $393,536.00. Following the completion of the transaction, the chief executive officer now directly owns 525,725 shares of the company’s stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Separately, analysts at Wedbush initiated coverage on shares of Franklin Electric Co. (NASDAQ:FELE) in a research note to investors on Monday, July 8th. They set an “outperform” rating and a $41.00 price target on the stock.
Shares of Franklin Electric Co. (NASDAQ:FELE) traded up 0.03% during mid-day trading on Wednesday, hitting $38.28. 47,964 shares of the company’s stock traded hands. Franklin Electric Co. has a one year low of $27.135 and a one year high of $38.90. The stock has a 50-day moving average of $37.40 and a 200-day moving average of $34.53. The company has a market cap of $1.820 billion and a P/E ratio of 23.48.
Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $263.40 million for the quarter, compared to the consensus estimate of $268.13 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts expect that Franklin Electric Co. will post $1.74 EPS for the current fiscal year.
Franklin Electric Co, Inc (NASDAQ:FELE) together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, consists of submersible motors, pumps, electronic controls and related parts and equipment.
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