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

Several other research analysts also recently commented on FELE. Zacks Investment Research downgraded Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Boenning Scattergood reissued an “outperform” rating and issued a $52.00 target price (up from $44.00) on shares of Franklin Electric Co. in a report on Wednesday, July 26th.

Franklin Electric Co. (NASDAQ:FELE) traded up 0.92% on Friday, hitting $38.40. The stock had a trading volume of 70,791 shares. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 20.87 and a beta of 1.60. Franklin Electric Co. has a 12-month low of $34.75 and a 12-month high of $46.50. The company’s 50 day moving average price is $40.33 and its 200-day moving average price is $40.58.

Franklin Electric Co. (NASDAQ:FELE) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $305.35 million for the quarter, compared to the consensus estimate of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. Franklin Electric Co.’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Equities research analysts anticipate that Franklin Electric Co. will post $1.92 EPS for the current year.

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In other Franklin Electric Co. news, VP John J. Haines sold 4,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $164,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert J. Stone sold 39,260 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the transaction, the insider now directly owns 39,392 shares in the company, valued at approximately $1,772,640. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Franklin Electric Co. by 26,341.4% in the first quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock valued at $224,097,000 after buying an additional 5,185,831 shares in the last quarter. Vanguard Group Inc. increased its position in Franklin Electric Co. by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,897,548 shares of the industrial products company’s stock valued at $161,359,000 after buying an additional 41,940 shares in the last quarter. Earnest Partners LLC increased its position in Franklin Electric Co. by 8.3% in the second quarter. Earnest Partners LLC now owns 2,248,817 shares of the industrial products company’s stock valued at $93,101,000 after buying an additional 172,872 shares in the last quarter. Wells Fargo & Company MN increased its position in Franklin Electric Co. by 4.7% in the second quarter. Wells Fargo & Company MN now owns 1,700,634 shares of the industrial products company’s stock valued at $70,406,000 after buying an additional 76,710 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Franklin Electric Co. by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,594,418 shares of the industrial products company’s stock valued at $66,008,000 after buying an additional 18,598 shares in the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

About Franklin Electric Co.

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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