Global Retirement Partners LLC Has $447,000 Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Global Retirement Partners LLC cut its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 67.8% during the fourth quarter, HoldingsChannel reports. The fund owned 4,591 shares of the industrial products company’s stock after selling 9,649 shares during the quarter. Global Retirement Partners LLC’s holdings in Franklin Electric were worth $447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FELE. CIBC Asset Management Inc purchased a new position in Franklin Electric in the fourth quarter valued at about $241,000. Sanctuary Advisors LLC grew its stake in shares of Franklin Electric by 3.4% in the 4th quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock valued at $434,000 after buying an additional 145 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Franklin Electric by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 205,212 shares of the industrial products company’s stock worth $19,998,000 after buying an additional 7,628 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Franklin Electric by 3.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 19,927 shares of the industrial products company’s stock valued at $1,942,000 after acquiring an additional 619 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Franklin Electric in the fourth quarter valued at approximately $950,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price target on shares of 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 Stock Down 1.7 %

Shares of FELE stock opened at $104.24 on Monday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The stock’s 50 day simple moving average is $99.32 and its 200 day simple moving average is $101.77. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping 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 business had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. As a group, research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.02%. Franklin Electric’s payout ratio is presently 27.53%.

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.