MML Investors Services LLC Acquires 156 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

MML Investors Services LLC lifted its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,048 shares of the industrial products company’s stock after acquiring an additional 156 shares during the quarter. MML Investors Services LLC’s holdings in Franklin Electric were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FELE. Allspring Global Investments Holdings LLC boosted its holdings in shares of Franklin Electric by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after acquiring an additional 40,248 shares during the last quarter. Earnest Partners LLC lifted its position in Franklin Electric by 2.6% during the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after purchasing an additional 39,478 shares during the period. Boston Trust Walden Corp lifted its position in Franklin Electric by 0.6% during the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after purchasing an additional 3,847 shares during the period. KBC Group NV boosted its holdings in Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock worth $40,571,000 after purchasing an additional 63,436 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Franklin Electric by 0.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 210,629 shares of the industrial products company’s stock worth $20,288,000 after purchasing an additional 1,712 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $98.37 on Friday. 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 stock has a market capitalization of $4.49 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. The firm’s 50 day moving average price is $104.88 and its 200-day moving average price is $101.61. Franklin Electric Co., Inc. has a twelve month low of $91.45 and a twelve month high of $111.94.

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

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio is presently 25.32%.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.72% of the company’s stock.

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.