Wellington Management Group LLP Has $4.39 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Wellington Management Group LLP decreased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,878 shares of the industrial products company’s stock after selling 14,058 shares during the quarter. Wellington Management Group LLP’s holdings in Franklin Electric were worth $4,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FELE. Quantinno Capital Management LP grew its holdings in Franklin Electric by 7.1% during the 3rd quarter. Quantinno Capital Management LP now owns 3,734 shares of the industrial products company’s stock worth $391,000 after acquiring an additional 248 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Franklin Electric during the third quarter worth $77,000. Janus Henderson Group PLC increased its holdings in Franklin Electric by 2.3% in the third quarter. Janus Henderson Group PLC now owns 76,131 shares of the industrial products company’s stock valued at $7,980,000 after purchasing an additional 1,746 shares during the last quarter. HighTower Advisors LLC lifted its stake in Franklin Electric by 4.9% in the third quarter. HighTower Advisors LLC now owns 5,165 shares of the industrial products company’s stock valued at $539,000 after buying an additional 241 shares during the period. Finally, Holocene Advisors LP boosted its holdings in Franklin Electric by 13.4% during the third quarter. Holocene Advisors LP now owns 22,594 shares of the industrial products company’s stock worth $2,368,000 after buying an additional 2,673 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Franklin Electric Stock Down 0.0 %

NASDAQ:FELE opened at $105.09 on Tuesday. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.35 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. The stock has a 50-day moving average price of $105.22 and a two-hundred day moving average price of $101.53. Franklin Electric Co., Inc. has a 1 year low of $91.45 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its 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). The business had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

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

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.