Oppenheimer Asset Management Inc. Has $2.24 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Oppenheimer Asset Management Inc. decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,397 shares of the industrial products company’s stock after selling 379 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Franklin Electric were worth $2,243,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FELE. Blue Trust Inc. lifted its position in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares during the last quarter. ORG Partners LLC bought a new position in Franklin Electric in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of Franklin Electric by 130.6% during the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after buying an additional 410 shares during the last quarter. CWM LLC boosted its position in shares of 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 acquiring an additional 98 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Franklin Electric in the third quarter worth $74,000. 79.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the sale, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

NASDAQ:FELE opened at $106.09 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. The company has a 50-day moving average of $102.81 and a 200-day moving average of $100.44. Franklin Electric Co., Inc. has a 52 week low of $87.65 and a 52 week high of $110.97. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.39 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last posted its quarterly 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 return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. During the same period last year, the company earned $1.23 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price target on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

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.