Gabelli Funds LLC Buys 8,000 Shares of Franklin Electric Co., Inc. $FELE

Gabelli Funds LLC lifted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,000 shares of the industrial products company’s stock after acquiring an additional 8,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.44% of Franklin Electric worth $17,881,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FELE. Oregon Public Employees Retirement Fund lifted its position in Franklin Electric by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company’s stock valued at $833,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after buying an additional 101 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Franklin Electric by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,885 shares of the industrial products company’s stock worth $787,000 after buying an additional 111 shares during the period. LPL Financial LLC raised its stake in shares of Franklin Electric by 1.0% during the fourth quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 115 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Franklin Electric by 24.3% during the second quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock worth $55,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Buying and Selling at Franklin Electric

In related 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 sale, the insider owned 10,402 shares of the company’s stock, valued at approximately $1,040,200. This trade represents a 15.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan M. Grandon sold 8,547 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the sale, the insider directly owned 7,509 shares in the company, valued at $776,430.60. The trade was a 53.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,835 shares of company stock valued at $2,004,982 in the last three months. 2.89% of the stock is owned by company insiders.

Analyst Ratings Changes

FELE has been the topic of a number of recent research reports. Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a research report on Tuesday, June 9th. Finally, DA Davidson reissued a “neutral” rating and issued a $100.00 price target on shares of Franklin Electric in a research note on Tuesday, June 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $106.00.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $105.59 on Friday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.92 and a beta of 1.03. The firm’s 50 day simple moving average is $102.48 and its 200 day simple moving average is $100.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.67 and a quick ratio of 1.14. Franklin Electric Co., Inc. has a fifty-two week low of $89.54 and a fifty-two week high of $111.53.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend 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 Company 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.