Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 85.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,571 shares of the industrial products company’s stock after selling 26,174 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Franklin Electric were worth $445,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Franklin Electric by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock valued at $105,264,000 after purchasing an additional 9,170 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock valued at $79,098,000 after purchasing an additional 143,917 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Franklin Electric by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company’s stock valued at $49,093,000 after purchasing an additional 10,580 shares in the last quarter. KBC Group NV lifted its holdings in Franklin Electric by 7.3% in the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock valued at $40,459,000 after purchasing an additional 28,121 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Franklin Electric by 15.9% in the 4th quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company’s stock valued at $38,208,000 after purchasing an additional 53,825 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the transaction, the insider now owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.72% of the company’s stock.

Franklin Electric Trading Down 2.5 %

Shares of FELE stock opened at $95.56 on Friday. The stock’s fifty day moving average is $100.36 and its two-hundred day moving average is $101.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The firm has a market capitalization of $4.37 billion, a P/E ratio of 24.82, a PEG ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The company had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. Research analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s payout ratio is currently 27.53%.

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.