Franklin Electric Co. (NASDAQ:FELE) declared a dividend on Monday, January 22nd, NASDAQ reports. Shareholders of record on Thursday, February 1st will be given a dividend of 0.108 per share by the industrial products company on Thursday, February 15th. This represents a yield of 0.00239202657807309%. The ex-dividend date is Wednesday, January 31st.
Franklin Electric has increased its dividend payment by an average of 6.7% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Franklin Electric has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Franklin Electric to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 20.3%.
Franklin Electric (FELE) opened at $45.15 on Tuesday. Franklin Electric has a 52 week low of $36.00 and a 52 week high of $47.20. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. The company has a market cap of $2,115.49, a price-to-earnings ratio of 24.27 and a beta of 1.62.
In other news, VP Donald P. Kenney sold 4,754 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $45.00, for a total value of $213,930.00. Following the transaction, the vice president now directly owns 19,129 shares in the company, valued at approximately $860,805. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.54% of the company’s stock.
FELE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, September 27th. Robert W. Baird restated a “hold” rating and issued a $45.00 price target on shares of Franklin Electric in a research report on Wednesday, October 4th. Boenning Scattergood restated a “buy” rating on shares of Franklin Electric in a research report on Tuesday, October 24th. Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. Finally, BidaskClub downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $50.00.
Franklin Electric 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.
Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.