UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 114,874 shares of the industrial products company’s stock after selling 3,312 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Franklin Electric were worth $12,041,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares during the period. ORG Partners LLC purchased a new stake in shares of Franklin Electric in the 2nd quarter worth $36,000. CWM LLC lifted its holdings in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after buying an additional 98 shares during the period. USA Financial Formulas purchased a new stake in shares of Franklin Electric in the 3rd quarter worth $74,000. Finally, Signaturefd LLC lifted its holdings in shares of Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after buying an additional 164 shares during the period. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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. This represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.72% of the company’s stock.

Franklin Electric Trading Down 0.4 %

Shares of NASDAQ:FELE opened at $106.57 on Friday. Franklin Electric Co., Inc. has a 12-month low of $90.79 and a 12-month high of $111.94. The business’s fifty day simple moving average is $104.93 and its 200-day simple moving average is $101.20. The company has a market capitalization of $4.87 billion, a PE ratio of 26.98, a P/E/G ratio of 2.36 and a beta of 0.98. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter in the prior year, the business posted $1.23 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. Franklin Electric’s dividend payout ratio is presently 25.32%.

Analyst Ratings Changes

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

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.