Inspire Investing LLC increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,192 shares of the industrial products company’s stock after buying an additional 164 shares during the period. Inspire Investing LLC’s holdings in Franklin Electric were worth $409,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of 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 in the last quarter. Trust Co. of Vermont bought a new stake in Franklin Electric in the fourth quarter worth approximately $40,000. CWM LLC lifted its stake 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 period. USA Financial Formulas bought a new position in shares of Franklin Electric during the 3rd quarter worth approximately $74,000. Finally, Signaturefd LLC grew its position in shares of Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Robert W. Baird cut 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 note on Wednesday, October 30th.
Insider Activity 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 completion of the sale, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by insiders.
Franklin Electric Stock Down 0.5 %
Shares of NASDAQ:FELE opened at $98.57 on Friday. 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 Co., Inc. has a 52-week low of $91.67 and a 52-week high of $111.94. The business’s 50 day simple moving average is $101.73 and its two-hundred day simple moving average is $101.83. The firm has a market cap of $4.50 billion, a P/E ratio of 24.95, a PEG ratio of 1.93 and a beta of 1.00.
Franklin Electric (NASDAQ:FELE – Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.
Franklin Electric Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors 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 dividend on an annualized basis and a dividend yield of 1.01%. Franklin Electric’s dividend payout ratio 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.
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