Franklin Electric Co., Inc. (NASDAQ:FELE)‘s stock had its “outperform” rating reissued by Boenning Scattergood in a note issued to investors on Tuesday.

Several other equities research analysts also recently weighed in on the company. BidaskClub downgraded Franklin Electric Co. from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research raised Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a report on Wednesday, July 26th.

Shares of Franklin Electric Co. (FELE) remained flat at $38.60 during trading on Tuesday. 33,440 shares of the stock were exchanged. Franklin Electric Co. has a 52-week low of $34.75 and a 52-week high of $46.50. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 20.98 and a beta of 1.63. The stock’s 50 day moving average price is $39.90 and its 200-day moving average price is $40.50.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in FELE. Victory Capital Management Inc. raised its position in shares of Franklin Electric Co. by 13.5% during the 1st quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 347 shares during the period. Invictus RG acquired a new stake in shares of Franklin Electric Co. during the 1st quarter worth approximately $300,000. Confluence Investment Management LLC raised its position in shares of Franklin Electric Co. by 25.8% during the 2nd quarter. Confluence Investment Management LLC now owns 81,145 shares of the industrial products company’s stock worth $3,359,000 after purchasing an additional 16,628 shares during the period. Principal Financial Group Inc. raised its position in shares of Franklin Electric Co. by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 343,110 shares of the industrial products company’s stock worth $14,771,000 after purchasing an additional 12,604 shares during the period. Finally, First National Bank of Omaha raised its position in shares of Franklin Electric Co. by 1.2% during the 2nd quarter. First National Bank of Omaha now owns 68,996 shares of the industrial products company’s stock worth $2,856,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors own 77.00% of the company’s stock.

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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