Principal Financial Group Inc. Sells 11,047 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Principal Financial Group Inc. cut its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,584 shares of the industrial products company’s stock after selling 11,047 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Franklin Electric worth $20,711,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Marks Group Wealth Management Inc raised its holdings in Franklin Electric by 4.5% in the 3rd quarter. Marks Group Wealth Management Inc now owns 81,497 shares of the industrial products company’s stock valued at $8,543,000 after buying an additional 3,507 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Franklin Electric by 16.0% during the third quarter. QRG Capital Management Inc. now owns 5,698 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 786 shares during the period. Van ECK Associates Corp grew its stake in shares of Franklin Electric by 40.0% in the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Franklin Electric by 20.9% in the third quarter. GHP Investment Advisors Inc. now owns 59,226 shares of the industrial products company’s stock valued at $6,208,000 after purchasing an additional 10,224 shares during the period. Finally, Boston Trust Walden Corp raised its position in Franklin Electric by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after purchasing an additional 3,847 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Performance

NASDAQ:FELE opened at $109.16 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a twelve month low of $87.65 and a twelve month high of $110.97. The company has a fifty day moving average of $102.19 and a 200-day moving average of $100.31. The firm has a market capitalization of $4.99 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.38 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share 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 net margin of 9.22% and a return on equity of 15.03%. Franklin Electric’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares in the company, valued at approximately $905,187.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.72% of the stock is owned by company insiders.

Franklin Electric 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.