US Bancorp DE Has $1.08 Million Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

US Bancorp DE decreased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,309 shares of the industrial products company’s stock after selling 437 shares during the quarter. US Bancorp DE’s holdings in Franklin Electric were worth $1,081,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Franklin Electric in the 2nd quarter worth about $36,000. CWM LLC grew its holdings in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Franklin Electric in the 3rd quarter worth about $74,000. Finally, Signaturefd LLC grew its holdings in shares of Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Down 0.6 %

Shares of NASDAQ:FELE opened at $107.80 on Friday. Franklin Electric Co., Inc. has a 12 month low of $86.13 and a 12 month high of $110.97. The company’s 50-day moving average price is $101.88 and its two-hundred day moving average price is $100.26. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.93 billion, a P/E ratio of 27.29, a P/E/G ratio of 2.16 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. During the same period in the prior year, the company earned $1.23 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

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 report on Wednesday, October 30th.

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.