Robert W. Baird Lowers Franklin Electric (NASDAQ:FELE) Price Target to $105.00

Franklin Electric (NASDAQ:FELE) had its price target reduced by Robert W. Baird from $107.00 to $105.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Franklin Electric Stock Up 1.9 %

Shares of NASDAQ:FELE opened at $97.50 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.40. Franklin Electric has a 1 year low of $85.47 and a 1 year high of $108.39. The stock has a market capitalization of $4.45 billion, a P/E ratio of 24.68, a PEG ratio of 2.09 and a beta of 0.95. The stock has a 50-day simple moving average of $101.64 and a 200-day simple moving average of $100.11.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. Equities analysts forecast that Franklin Electric will post 3.84 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Hedge Funds Weigh In On Franklin Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its position in shares of Franklin Electric by 25.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,035 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 807 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Franklin Electric in the 1st quarter valued at approximately $821,000. Texas Permanent School Fund Corp raised its position in shares of Franklin Electric by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 34,719 shares of the industrial products company’s stock valued at $3,708,000 after purchasing an additional 450 shares in the last quarter. Duality Advisers LP raised its position in shares of Franklin Electric by 1.6% in the 1st quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock valued at $946,000 after purchasing an additional 137 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in shares of Franklin Electric by 2.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 22,901 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 492 shares in the last quarter. 79.98% of the stock is 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. 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.