Wellington Management Group LLP Sells 1,006 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Wellington Management Group LLP trimmed its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,068 shares of the industrial products company’s stock after selling 1,006 shares during the quarter. Wellington Management Group LLP owned about 0.15% of Franklin Electric worth $6,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Franklin Electric in the fourth quarter worth approximately $26,000. Principal Securities Inc. purchased a new stake in Franklin Electric during the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC purchased a new stake in Franklin Electric during the 3rd quarter valued at $37,000. Signaturefd LLC increased its holdings in shares of Franklin Electric by 35.3% in the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 141 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Franklin Electric by 51.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,094 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 374 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Trading Down 0.0 %

Franklin Electric stock opened at $96.32 on Friday. Franklin Electric Co., Inc. has a 52-week low of $82.61 and a 52-week high of $107.89. The company has a market cap of $4.44 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a quick ratio of 1.17, a current ratio of 2.85 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $98.84 and a two-hundred day simple moving average of $98.85.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The company had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. During the same period in the prior year, the business posted $0.79 earnings per share. Franklin Electric’s revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts predict that Franklin Electric Co., Inc. will post 4.27 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, May 1st. Franklin Electric’s payout ratio is 24.88%.

Wall Street Analysts Forecast Growth

FELE has been the topic of several research analyst reports. StockNews.com cut shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. DA Davidson increased their price objective on shares of Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $102.06, for a total value of $225,960.84. Following the completion of the sale, the insider now owns 8,014 shares in the company, valued at approximately $817,908.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of Franklin Electric stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $102.06, for a total value of $225,960.84. Following the sale, the insider now directly owns 8,014 shares in the company, valued at approximately $817,908.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $98.00, for a total value of $136,318.00. Following the completion of the sale, the insider now directly owns 18,103 shares in the company, valued at approximately $1,774,094. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

About Franklin Electric

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.