First Horizon Advisors Inc. Sells 168 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

First Horizon Advisors Inc. decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 29.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407 shares of the industrial products company’s stock after selling 168 shares during the quarter. First Horizon Advisors Inc.’s holdings in Franklin Electric were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneAscent Financial Services LLC bought a new position in shares of Franklin Electric during the 3rd quarter valued at $223,000. Caprock Group LLC bought a new position in shares of Franklin Electric during the third quarter valued at about $208,000. Quest Partners LLC grew its stake in shares of Franklin Electric by 691.6% during the third quarter. Quest Partners LLC now owns 29,970 shares of the industrial products company’s stock valued at $3,141,000 after buying an additional 26,184 shares during the last quarter. Chesapeake Capital Corp IL increased its holdings in shares of Franklin Electric by 79.8% in the third quarter. Chesapeake Capital Corp IL now owns 4,610 shares of the industrial products company’s stock worth $484,000 after buying an additional 2,046 shares during the period. Finally, KBC Group NV lifted its stake in shares of Franklin Electric by 19.6% in the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after acquiring an additional 63,436 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Franklin Electric Price Performance

FELE stock opened at $109.06 on Monday. Franklin Electric Co., Inc. has a 12-month low of $87.65 and a 12-month high of $110.97. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.33 and a beta of 0.96. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $103.86 and its two-hundred day moving average price is $100.72.

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

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.92%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

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.