Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Duality Advisers LP

Duality Advisers LP lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,720 shares of the industrial products company’s stock after selling 197 shares during the quarter. Duality Advisers LP’s holdings in Franklin Electric were worth $843,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FELE. Robeco Schweiz AG boosted its position in Franklin Electric by 68.8% during the 3rd quarter. Robeco Schweiz AG now owns 369,996 shares of the industrial products company’s stock worth $33,015,000 after acquiring an additional 150,748 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Franklin Electric by 103.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 207,876 shares of the industrial products company’s stock worth $18,549,000 after buying an additional 105,534 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Franklin Electric in the 4th quarter worth $6,676,000. Qube Research & Technologies Ltd raised its stake in shares of Franklin Electric by 230.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 52,108 shares of the industrial products company’s stock worth $4,650,000 after buying an additional 36,320 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Franklin Electric by 6.2% in the 3rd quarter. Invesco Ltd. now owns 615,008 shares of the industrial products company’s stock worth $54,877,000 after buying an additional 36,114 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In related news, CEO Gregg C. Sengstack sold 10,366 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the completion of the transaction, the chief executive officer now owns 154,993 shares of the company’s stock, valued at approximately $15,493,100.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Performance

Shares of NASDAQ FELE opened at $102.85 on Thursday. The company has a market capitalization of $4.73 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The business’s 50-day moving average price is $102.26 and its two-hundred day moving average price is $95.48. Franklin Electric Co., Inc. has a one year low of $82.61 and a one year high of $107.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.97 and a quick ratio of 1.20.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $472.97 million for the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Analysts anticipate that Franklin Electric Co., Inc. will post 4.32 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.97%. Franklin Electric’s dividend payout ratio (DPR) is presently 24.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FELE shares. Robert W. Baird boosted their price objective on Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Friday, February 23rd. Finally, StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Franklin Electric 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.