Jane Street Group LLC Sells 10,152 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Jane Street Group LLC cut its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 16.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,850 shares of the industrial products company’s stock after selling 10,152 shares during the quarter. Jane Street Group LLC’s holdings in Franklin Electric were worth $5,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Franklin Electric by 16.7% during the third 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 last quarter. Covestor Ltd grew its position in Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 103 shares during the last quarter. Blue Trust Inc. increased its holdings in 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 purchasing an additional 107 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Franklin Electric by 1.0% during the second quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock valued at $1,060,000 after purchasing an additional 109 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Down 0.0 %

Shares of FELE opened at $105.09 on Tuesday. The company has a market capitalization of $4.80 billion, a PE ratio of 26.61, a PEG ratio of 2.35 and a beta of 0.98. The stock’s 50-day moving average price is $105.22 and its two-hundred day moving average price is $101.53. 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 Co., Inc. has a 12 month low of $91.45 and a 12 month high of $111.94.

Franklin Electric (NASDAQ:FELE) last announced its 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). 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 the consensus estimate of $551.08 million. During the same quarter in the previous year, the company earned $1.23 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.95%. Franklin Electric’s payout ratio is 25.32%.

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.