Fifth Third Bancorp Grows Holdings in Franklin Electric Co., Inc. $FELE

Fifth Third Bancorp boosted its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 7,091.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,964 shares of the industrial products company’s stock after acquiring an additional 15,742 shares during the period. Fifth Third Bancorp’s holdings in Franklin Electric were worth $1,471,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FELE. Teacher Retirement System of Texas lifted its position in Franklin Electric by 19.4% during the fourth quarter. Teacher Retirement System of Texas now owns 69,988 shares of the industrial products company’s stock valued at $6,686,000 after buying an additional 11,351 shares during the period. Seizert Capital Partners LLC bought a new position in shares of Franklin Electric in the fourth quarter worth approximately $3,760,000. JPMorgan Chase & Co. boosted its stake in Franklin Electric by 124.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 205,617 shares of the industrial products company’s stock valued at $19,575,000 after purchasing an additional 113,962 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Franklin Electric by 79.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 375,251 shares of the industrial products company’s stock worth $35,848,000 after buying an additional 165,646 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Franklin Electric during the 4th quarter valued at about $27,266,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the transaction, the insider directly owned 10,402 shares in the company, valued at $1,040,200. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the sale, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,835 shares of company stock valued at $2,004,982 in the last quarter. 2.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Franklin Electric in a report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $106.00.

Franklin Electric Stock Up 0.9%

Shares of FELE opened at $105.58 on Friday. The business has a fifty day moving average of $102.29 and a 200 day moving average of $99.96. The company has a market cap of $4.66 billion, a PE ratio of 31.80, a P/E/G ratio of 1.90 and a beta of 1.03. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $111.53.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. The firm had revenue of $500.44 million during the quarter, compared to analysts’ expectations of $479.21 million. During the same period in the previous year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.58 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 7th. Franklin Electric’s dividend payout ratio (DPR) is currently 33.73%.

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.