12,410 Shares in Franklin Electric Co., Inc. $FELE Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,410 shares of the industrial products company’s stock, valued at approximately $1,181,000.

A number of other hedge funds also recently added to or reduced their stakes in FELE. Intech Investment Management LLC boosted its holdings in shares of Franklin Electric by 11.0% in the second quarter. Intech Investment Management LLC now owns 40,280 shares of the industrial products company’s stock valued at $3,615,000 after acquiring an additional 3,986 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in Franklin Electric by 13.0% in the second quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock valued at $8,331,000 after purchasing an additional 10,692 shares during the period. Entropy Technologies LP boosted its holdings in Franklin Electric by 220.2% in the 2nd quarter. Entropy Technologies LP now owns 8,288 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 5,700 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in Franklin Electric in the 3rd quarter valued at approximately $1,081,000. Finally, UniSuper Management Pty Ltd increased its position in Franklin Electric by 94.3% during the 3rd quarter. UniSuper Management Pty Ltd now owns 118,497 shares of the industrial products company’s stock worth $11,281,000 after purchasing an additional 57,518 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Up 1.0%

Franklin Electric stock opened at $99.62 on Friday. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $108.08. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The stock’s fifty day moving average is $97.66 and its two-hundred day moving average is $95.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.54.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, February 5th. Franklin Electric’s payout ratio is currently 34.53%.

Analysts Set New Price Targets

Several analysts have recently commented on FELE shares. Robert W. Baird set a $112.00 price target on Franklin Electric in a report on Wednesday, October 29th. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $112.00.

Franklin Electric Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.