Franklin Electric Co., Inc. (NASDAQ:FELE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Separately, Zacks Investment Research raised Franklin Electric Co. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, April 25th.

Shares of Franklin Electric Co. (NASDAQ:FELE) traded down 2.77% during trading on Wednesday, reaching $38.65. The company’s stock had a trading volume of 91,877 shares. Franklin Electric Co. has a 12-month low of $31.39 and a 12-month high of $45.15. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 22.76 and a beta of 1.62. The company has a 50 day moving average of $38.94 and a 200-day moving average of $40.54.

Franklin Electric Co. (NASDAQ:FELE) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.02. Franklin Electric Co. had a return on equity of 13.04% and a net margin of 8.48%. The business had revenue of $220.30 million for the quarter, compared to the consensus estimate of $226.74 million. During the same period in the prior year, the business posted $0.29 earnings per share. Franklin Electric Co.’s revenue was up .9% on a year-over-year basis. Analysts forecast that Franklin Electric Co. will post $1.80 EPS for the current year.

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In other Franklin Electric Co. news, insider Thomas J. Strupp sold 4,876 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $39.26, for a total transaction of $191,431.76. Following the transaction, the insider now directly owns 10,515 shares in the company, valued at approximately $412,818.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Delancey W. Davis sold 4,071 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $34.45, for a total value of $140,245.95. The disclosure for this sale can be found here. Insiders have sold a total of 12,947 shares of company stock valued at $495,678 over the last three months. 2.54% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gotham Asset Management LLC purchased a new position in Franklin Electric Co. during the first quarter valued at approximately $511,000. State Street Corp increased its position in Franklin Electric Co. by 5.2% in the first quarter. State Street Corp now owns 1,031,688 shares of the industrial products company’s stock valued at $44,412,000 after buying an additional 50,802 shares during the last quarter. Bank of America Corp DE increased its position in Franklin Electric Co. by 41.2% in the first quarter. Bank of America Corp DE now owns 233,067 shares of the industrial products company’s stock valued at $10,033,000 after buying an additional 67,983 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Franklin Electric Co. during the first quarter valued at approximately $2,130,000. Finally, Schwab Charles Investment Management Inc. increased its position in Franklin Electric Co. by 9.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 236,586 shares of the industrial products company’s stock valued at $10,186,000 after buying an additional 20,311 shares during the last quarter. Institutional investors own 78.86% of the company’s stock.

Franklin Electric Co. Company Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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