Franklin Electric Co., Inc. (NASDAQ:FELE) Position Trimmed by Raymond James & Associates

Raymond James & Associates trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,442 shares of the industrial products company’s stock after selling 124 shares during the period. Raymond James & Associates’ holdings in Franklin Electric were worth $333,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FELE. Robeco Schweiz AG boosted its holdings in Franklin Electric by 68.8% during the third quarter. Robeco Schweiz AG now owns 369,996 shares of the industrial products company’s stock worth $33,015,000 after buying an additional 150,748 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Franklin Electric by 103.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 207,876 shares of the industrial products company’s stock worth $18,549,000 after purchasing an additional 105,534 shares during the period. Qube Research & Technologies Ltd boosted its stake in Franklin Electric by 230.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 52,108 shares of the industrial products company’s stock worth $4,650,000 after purchasing an additional 36,320 shares during the period. Invesco Ltd. boosted its stake in Franklin Electric by 6.2% in the 3rd quarter. Invesco Ltd. now owns 615,008 shares of the industrial products company’s stock worth $54,877,000 after purchasing an additional 36,114 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Franklin Electric by 8.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,300 shares of the industrial products company’s stock worth $41,251,000 after purchasing an additional 35,026 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the transaction, the chief executive officer now owns 154,993 shares in the company, valued at $15,493,100.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Trading Up 0.2 %

Shares of NASDAQ FELE opened at $102.77 on Monday. The business has a 50 day simple moving average of $102.35 and a 200 day simple moving average of $95.70. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $107.89. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.97.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The firm had revenue of $472.97 million during the quarter, compared to analyst estimates of $490.47 million. During the same quarter in the prior year, the company posted $0.84 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. On average, research analysts predict that Franklin Electric Co., Inc. will post 4.32 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 0.97%. Franklin Electric’s dividend payout ratio is currently 24.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Northcoast Research raised shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Friday, February 23rd. StockNews.com lowered shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Finally, Robert W. Baird increased their target price on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Franklin Electric has an average rating of “Moderate Buy” and an average price target of $100.00.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.