Thrivent Financial for Lutherans Sells 2,054 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Thrivent Financial for Lutherans decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,844 shares of the industrial products company’s stock after selling 2,054 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Franklin Electric worth $3,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CWM LLC increased its stake in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares in the last quarter. Covestor Ltd grew its holdings in shares of Franklin Electric by 15.6% during the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after buying an additional 103 shares during the last quarter. Blue Trust Inc. increased its position in shares of Franklin Electric by 55.7% during the third 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. Marshall Wace LLP raised its holdings in shares of Franklin Electric by 1.0% in the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after acquiring an additional 109 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 164 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of FELE stock opened at $110.40 on Tuesday. Franklin Electric Co., Inc. has a one year low of $87.65 and a one year high of $111.94. The company has a market cap of $5.04 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.39 and a beta of 0.96. The firm has a 50-day moving average of $103.86 and a 200-day moving average of $100.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.

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

Franklin Electric Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated 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 in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.72% of the company’s stock.

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.