Insider Selling: Franklin Electric Co., Inc. (NASDAQ:FELE) Insider Sells 5,396 Shares of Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction dated Wednesday, July 31st. The stock was 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 in the company, valued at approximately $10,460,637.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Franklin Electric Trading Down 2.4 %

NASDAQ FELE opened at $99.83 on Friday. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $108.39. The firm has a 50 day moving average of $98.69 and a two-hundred day moving average of $99.78. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.56 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96.

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

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is 24.88%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FELE shares. StockNews.com cut shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. DA Davidson boosted their target price on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st.

Institutional Investors Weigh In On Franklin Electric

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in shares of Franklin Electric in the 1st quarter valued at about $968,000. Vanguard Group Inc. boosted its holdings in shares of Franklin Electric by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after acquiring an additional 30,408 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Franklin Electric by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock worth $5,197,000 after acquiring an additional 5,311 shares during the last quarter. Norges Bank acquired a new position in shares of Franklin Electric in the 4th quarter valued at $48,711,000. Finally, Running Oak Capital LLC raised its position in Franklin Electric by 17.9% in the 4th quarter. Running Oak Capital LLC now owns 92,593 shares of the industrial products company’s stock valued at $8,949,000 after purchasing an additional 14,074 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

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.