Covestor Ltd Increases Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Covestor Ltd grew its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 15.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 765 shares of the industrial products company’s stock after purchasing an additional 103 shares during the period. Covestor Ltd’s holdings in Franklin Electric were worth $80,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 107 shares during the last quarter. ORG Partners LLC bought a new stake in Franklin Electric in the second quarter worth $36,000. GAMMA Investing LLC raised its stake in Franklin Electric by 130.6% during the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 410 shares in the last quarter. CWM LLC lifted its position in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Franklin Electric in the 3rd quarter worth $74,000. 79.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th.

Insider Buying and Selling at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

NASDAQ FELE opened at $109.16 on Thursday. The company has a market cap of $4.99 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.38 and a beta of 0.96. The business’s 50 day moving average price is $102.19 and its 200-day moving average price is $100.31. Franklin Electric Co., Inc. has a fifty-two week low of $87.65 and a fifty-two week high of $110.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The firm had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. Sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

About Franklin Electric

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.