Insider Selling: Franklin Electric Co., Inc. (NASDAQ:FELE) Director Sells $2,066,400.00 in Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) Director David M. Wathen sold 24,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $86.10, for a total value of $2,066,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $86.54 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The business’s 50 day moving average price is $87.52 and its 200-day moving average price is $96.27. The firm has a market capitalization of $3.95 billion, a PE ratio of 22.48, a P/E/G ratio of 2.11 and a beta of 1.08. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). The firm had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, equities research analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, May 8th. Franklin Electric’s dividend payout ratio (DPR) is currently 27.75%.

Wall Street Analyst Weigh In

FELE has been the subject of several research analyst reports. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. Robert W. Baird reduced their price objective on Franklin Electric from $111.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th.

Hedge Funds Weigh In On Franklin Electric

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Franklin Electric by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,769,582 shares of the industrial products company’s stock worth $464,796,000 after acquiring an additional 45,174 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Franklin Electric by 0.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045,534 shares of the industrial products company’s stock valued at $194,551,000 after acquiring an additional 11,715 shares in the last quarter. Allianz Asset Management GmbH grew its position in Franklin Electric by 2.7% in the 1st quarter. Allianz Asset Management GmbH now owns 833,985 shares of the industrial products company’s stock valued at $78,295,000 after acquiring an additional 22,303 shares in the last quarter. Norges Bank acquired a new position in Franklin Electric in the 4th quarter valued at about $56,968,000. Finally, Northern Trust Corp grew its position in Franklin Electric by 11.0% in the 4th quarter. Northern Trust Corp now owns 513,896 shares of the industrial products company’s stock valued at $50,079,000 after acquiring an additional 50,750 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

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.