Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 59.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,974 shares of the industrial products company’s stock after selling 11,455 shares during the period. Exchange Traded Concepts LLC’s holdings in Franklin Electric were worth $777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FELE. Van ECK Associates Corp boosted its stake in shares of Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after acquiring an additional 7,092 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Franklin Electric by 420.9% during the 3rd quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock worth $1,153,000 after acquiring an additional 8,889 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 107 shares in the last quarter. PDT Partners LLC boosted its stake in shares of Franklin Electric by 241.8% during the 3rd quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock worth $1,261,000 after acquiring an additional 8,510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Franklin Electric by 19.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 451 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Trading Down 0.7 %

Shares of Franklin Electric stock opened at $98.55 on Thursday. The firm has a market capitalization of $4.50 billion, a PE ratio of 24.95, a P/E/G ratio of 1.93 and a beta of 1.00. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The firm’s 50-day moving average price is $101.48 and its 200 day moving average price is $101.88. 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 issued its quarterly 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). The company had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. On average, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a $0.265 dividend. The ex-dividend date is Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.08%. Franklin Electric’s dividend payout ratio (DPR) is currently 25.32%.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their target price 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.

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.