US Bancorp DE Sells 1,252 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

US Bancorp DE reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,057 shares of the industrial products company’s stock after selling 1,252 shares during the quarter. US Bancorp DE’s holdings in Franklin Electric were worth $883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FELE. Proficio Capital Partners LLC bought a new stake in shares of Franklin Electric in the 4th quarter valued at about $134,000. Oppenheimer Asset Management Inc. increased its position in Franklin Electric by 0.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,587 shares of the industrial products company’s stock worth $2,104,000 after buying an additional 190 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Franklin Electric by 15.9% in the fourth quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company’s stock valued at $38,208,000 after buying an additional 53,825 shares during the period. BHK Investment Advisors LLC lifted its position in shares of Franklin Electric by 2.5% in the fourth quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock valued at $501,000 after buying an additional 125 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Franklin Electric during the 4th quarter worth approximately $661,000. 79.98% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the transaction, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Stock Up 1.7 %

FELE stock opened at $102.75 on Monday. The business’s 50 day simple moving average is $99.71 and its 200 day simple moving average is $101.97. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-year high of $111.94. The firm has a market capitalization of $4.70 billion, a PE ratio of 26.69, a PEG ratio of 2.11 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. As a group, research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.265 dividend. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

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.