Global Retirement Partners LLC Reduces Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Global Retirement Partners LLC lowered its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,240 shares of the industrial products company’s stock after selling 454 shares during the period. Global Retirement Partners LLC’s holdings in Franklin Electric were worth $1,493,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FELE. GAMMA Investing LLC lifted its position in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 147 shares during the period. ORG Partners LLC acquired a new stake in shares of Franklin Electric during the second quarter worth about $36,000. CWM LLC boosted its position in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares during the last quarter. USA Financial Formulas acquired a new position in Franklin Electric in the 3rd quarter worth approximately $74,000. Finally, Intech Investment Management LLC purchased a new position in Franklin Electric during the 2nd quarter worth approximately $203,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total transaction of $575,429.44. Following the sale, the insider now directly owns 98,093 shares of the company’s stock, valued at approximately $10,460,637.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total transaction of $575,429.44. Following the sale, the insider now directly owns 98,093 shares of the company’s stock, valued at $10,460,637.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregg C. Sengstack sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the sale, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,486 shares of company stock valued at $2,568,171 in the last three months. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Down 1.0 %

FELE stock opened at $104.53 on Friday. The company has a market capitalization of $4.82 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $108.39. The firm’s fifty day simple moving average is $101.56 and its 200-day simple moving average is $100.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The company had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. During the same period in the prior year, the business posted $1.27 earnings per share. Franklin Electric’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. Franklin Electric’s payout ratio is 24.88%.

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.