JPMorgan Chase & Co. Raises Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

JPMorgan Chase & Co. increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 26.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 154,305 shares of the industrial products company’s stock after buying an additional 31,937 shares during the period. JPMorgan Chase & Co.’s holdings in Franklin Electric were worth $16,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its holdings in Franklin Electric by 9.9% in the third quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company’s stock worth $1,076,000 after purchasing an additional 914 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Franklin Electric by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 13,518 shares of the industrial products company’s stock worth $1,417,000 after acquiring an additional 1,502 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Franklin Electric by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock worth $105,264,000 after acquiring an additional 9,170 shares during the last quarter. Barclays PLC boosted its stake in shares of Franklin Electric by 237.3% during the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company’s stock worth $9,184,000 after acquiring an additional 61,640 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after acquiring an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Trading Down 1.7 %

Shares of Franklin Electric stock opened at $93.38 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 1-year low of $91.49 and a 1-year high of $111.94. The company’s fifty day simple moving average is $103.36 and its 200-day simple moving average is $101.55. The stock has a market capitalization of $4.27 billion, a PE ratio of 23.64, a P/E/G ratio of 2.30 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share 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 firm had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter last year, the firm posted $1.23 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped 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 note on Wednesday, October 30th.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.72% of the stock is owned by corporate insiders.

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.