Swiss National Bank Has $8.02 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Swiss National Bank decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,500 shares of the industrial products company’s stock after selling 600 shares during the quarter. Swiss National Bank owned approximately 0.17% of Franklin Electric worth $8,019,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FELE. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 107 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Franklin Electric during the 2nd quarter valued at $36,000. GAMMA Investing LLC boosted its holdings 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 valued at $70,000 after acquiring an additional 410 shares in the last quarter. CWM LLC boosted its holdings in shares of 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 acquiring an additional 98 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in Franklin Electric during the 3rd quarter worth about $74,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their target price on 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 Stock Up 1.2 %

Shares of FELE opened at $110.40 on Tuesday. The company has a market capitalization of $5.04 billion, a PE ratio of 27.95, a PEG ratio of 2.39 and a beta of 0.96. Franklin Electric Co., Inc. has a 12 month low of $87.65 and a 12 month high of $111.94. The stock’s 50-day moving average price is $103.86 and its two-hundred day moving average price is $100.71. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last announced its earnings results 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). The company 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%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, analysts anticipate that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

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

Insider Activity

In other news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.72% of the stock is owned by company insiders.

About Franklin Electric

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.