AQR Capital Management LLC Increases Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

AQR Capital Management LLC boosted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 23.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,194 shares of the industrial products company’s stock after purchasing an additional 2,302 shares during the quarter. AQR Capital Management LLC’s holdings in Franklin Electric were worth $1,175,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in shares of Franklin Electric by 1.0% during the 2nd 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 during the period. Duality Advisers LP grew its stake in shares of Franklin Electric by 1.6% during the first quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock valued at $946,000 after buying an additional 137 shares during the last quarter. GAMMA Investing LLC increased its stake in Franklin Electric by 88.0% in the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after buying an additional 147 shares during the period. Bridge City Capital LLC grew its position in shares of Franklin Electric by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 21,399 shares of the industrial products company’s stock worth $2,286,000 after buying an additional 166 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Franklin Electric by 1.8% during the second quarter. Arizona State Retirement System now owns 10,971 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 195 shares in the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $105.31 on Friday. The company has a market cap of $4.85 billion, a PE ratio of 26.20, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $108.39. The business has a 50-day simple moving average of $100.63 and a two-hundred day simple moving average of $100.29.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The company had revenue of $543.30 million during the quarter, compared to analysts’ expectations of $570.80 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, August 1st. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the sale, the insider now directly owns 108,489 shares in the company, valued at $11,268,752.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the completion of the transaction, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay J. Walsh sold 14,090 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $104.57, for a total value of $1,473,391.30. Following the transaction, the insider now directly owns 16,927 shares in the company, valued at approximately $1,770,056.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,486 shares of company stock worth $2,568,171. 2.72% of the stock is currently owned by 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.