Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 82.5% during the third quarter, HoldingsChannel.com reports. The fund owned 14,563 shares of the industrial products company’s stock after selling 68,509 shares during the quarter. Natixis Advisors LLC’s holdings in Franklin Electric were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FELE. O Shaughnessy Asset Management LLC boosted its holdings in Franklin Electric by 10.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,037 shares of the industrial products company’s stock valued at $538,000 after purchasing an additional 482 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Franklin Electric by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,405 shares of the industrial products company’s stock valued at $2,607,000 after purchasing an additional 1,727 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Franklin Electric by 21.0% during the 1st quarter. Tidal Investments LLC now owns 4,926 shares of the industrial products company’s stock worth $526,000 after purchasing an additional 856 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Franklin Electric by 1.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,090 shares of the industrial products company’s stock worth $10,697,000 after purchasing an additional 1,450 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Franklin Electric by 130.6% during the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 410 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE opened at $110.40 on Tuesday. Franklin Electric Co., Inc. has a 1 year low of $87.65 and a 1 year high of $111.94. The company’s 50 day simple moving average is $103.86 and its 200 day simple moving average is $100.71. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 EPS. On average, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report 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.