Seaport Global Securities reiterated their neutral rating on shares of Franklin Electric (NASDAQ:FELE) in a research report report published on Tuesday morning, Zacks.com reports. Seaport Global Securities also issued estimates for Franklin Electric’s Q4 2020 earnings at $0.50 EPS, Q3 2021 earnings at $0.80 EPS, Q4 2021 earnings at $0.56 EPS and FY2021 earnings at $2.29 EPS.
Several other research firms have also recently issued reports on FELE. Sidoti assumed coverage on Franklin Electric in a research report on Wednesday, July 1st. They set a buy rating on the stock. BidaskClub upgraded Franklin Electric from a hold rating to a buy rating in a research report on Tuesday, September 22nd. Zacks Investment Research raised Franklin Electric from a hold rating to a strong-buy rating and set a $69.00 target price for the company in a report on Wednesday, September 2nd. Robert W. Baird raised 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 note on Tuesday, September 29th. Finally, DA Davidson cut shares of Franklin Electric from a buy rating to a neutral rating and set a $50.00 price objective for the company. in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $63.67.
NASDAQ:FELE opened at $59.02 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.16 and a quick ratio of 1.44. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 31.23 and a beta of 1.10. The firm’s fifty day moving average price is $60.56 and its 200 day moving average price 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 issued its earnings results on Tuesday, October 27th. The industrial products company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.20. Franklin Electric had a net margin of 7.16% and a return on equity of 11.70%. The business had revenue of $351.20 million for the quarter, compared to the consensus estimate of $326.59 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts expect that Franklin Electric will post 1.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, November 4th. This represents a $0.62 dividend on an annualized basis and a yield of 1.05%. Franklin Electric’s payout ratio is 29.95%.
In other news, VP Julie Scheck Freigang sold 11,145 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $59.69, for a total transaction of $665,245.05. Following the completion of the transaction, the vice president now directly owns 11,652 shares of the company’s stock, valued at approximately $695,507.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregg C. Sengstack sold 7,429 shares of Franklin Electric stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $57.16, for a total value of $424,641.64. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its holdings in Franklin Electric by 47,000.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 471 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 470 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Franklin Electric by 124.2% during the second quarter. Glenmede Trust Co. NA now owns 538 shares of the industrial products company’s stock worth $28,000 after buying an additional 298 shares during the period. CWM LLC acquired a new stake in Franklin Electric in the 3rd quarter valued at $35,000. Macquarie Group Ltd. acquired a new position in shares of Franklin Electric during the second quarter worth about $58,000. Finally, Citizens Financial Group Inc RI boosted its position in shares of Franklin Electric by 180.9% in the second quarter. Citizens Financial Group Inc RI now owns 1,573 shares of the industrial products company’s stock worth $83,000 after buying an additional 1,013 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Franklin Electric Company Profile
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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