Covestor Ltd Has $56,000 Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Covestor Ltd lessened its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 574 shares of the industrial products company’s stock after selling 191 shares during the quarter. Covestor Ltd’s holdings in Franklin Electric were worth $56,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FELE. FMR LLC boosted its stake in shares of Franklin Electric by 49.4% in the 3rd quarter. FMR LLC now owns 7,588 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 2,508 shares during the last quarter. Verition Fund Management LLC acquired a new position in Franklin Electric in the third quarter valued at about $234,000. HighTower Advisors LLC grew its position in shares of Franklin Electric by 4.9% in the 3rd quarter. HighTower Advisors LLC now owns 5,165 shares of the industrial products company’s stock valued at $539,000 after purchasing an additional 241 shares during the period. Quantinno Capital Management LP increased its position in shares of Franklin Electric by 7.1% during the third quarter. Quantinno Capital Management LP now owns 3,734 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 248 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE opened at $89.13 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a twelve month low of $82.69 and a twelve month high of $111.94. The company has a 50 day moving average of $97.78 and a 200-day moving average of $100.76. The stock has a market capitalization of $4.08 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.11 and a beta of 1.02.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is presently 27.53%.

Insiders Place Their Bets

In related news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the sale, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. This represents a 11.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Company 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.