Franklin Electric Co. (NASDAQ:FELE) declared a quarterly dividend on Tuesday, October 27th, Wall Street Journal reports. Shareholders of record on Thursday, November 5th will be given a dividend of 0.155 per share by the industrial products company on Thursday, November 19th. This represents a $0.62 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, November 4th.
Franklin Electric has increased its dividend by 45.9% over the last three years and has increased its dividend annually for the last 1 consecutive years. Franklin Electric has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $2.21 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 28.1%.
Shares of Franklin Electric stock opened at $59.02 on Thursday. The firm has a market capitalization of $2.73 billion, a PE ratio of 31.23 and a beta of 1.10. The company has a current ratio of 3.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $60.56 and its 200 day moving average is $54.81. Franklin Electric has a 1 year low of $41.25 and a 1 year high of $65.16.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. The company had revenue of $351.20 million for the quarter, compared to analyst estimates of $326.59 million. Franklin Electric had a net margin of 7.16% and a return on equity of 11.70%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. As a group, research analysts anticipate that Franklin Electric will post 1.89 earnings per share for the current year.
In other news, VP Julie Scheck Freigang sold 11,145 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $59.69, for a total value of $665,245.05. Following the completion of the sale, the vice president now owns 11,652 shares in the company, valued at approximately $695,507.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregg C. Sengstack sold 7,429 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $57.16, for a total transaction of $424,641.64. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.
FELE has been the topic of several research reports. Sidoti assumed coverage on shares of Franklin Electric in a report on Wednesday, July 1st. They set a “buy” rating on the stock. Robert W. Baird upgraded shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, September 29th. Zacks Investment Research upgraded shares of Franklin Electric from a “hold” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, September 2nd. DA Davidson lowered shares of Franklin Electric from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a research note on Thursday, July 2nd. Finally, BidaskClub upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.67.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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