Gregg C. Sengstack sells 5,000 shares of Franklin Electric Co., Inc. (NASDAQ: FELE)


Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) CEO Gregg C. Sengstack sold 5,000 shares of the company in a trade on Thursday, August 18. The stock was sold at an average price of $94.54, for a total value of $472,700.00. Following the sale, the CEO now owns 131,997 shares of the company, valued at approximately $12,478,996.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink.

Franklin Electric trades down 1.0%

The NASDAQ FELE opened at $93.85 on Friday. The stock has a 50-day simple moving average of $80.39 and a 200-day simple moving average of $79.57. The company has a market capitalization of $4.34 billion, a PE ratio of 25.23 and a beta of 1.07. The company has a current ratio of 1.69, a quick ratio of 0.64 and a debt ratio of 0.09. Franklin Electric Co., Inc. has a 12-month low of $68.27 and a 12-month high of $96.95.

Franklin Electric Inc (NASDAQ:FELE – Get Rating) last released quarterly earnings data on Tuesday, July 26. The industrial products company reported EPS of $1.26 for the quarter, beating consensus analyst estimates of $1.06 by $0.20. Franklin Electric had a return on equity of 17.82% and a net margin of 9.29%. The company posted revenue of $551.10 million in the quarter, versus a consensus estimate of $528.67 million. In the same quarter a year earlier, the company posted earnings per share of $0.83. The company’s revenue increased 26.0% year over year. Research analysts expect Franklin Electric Co., Inc. to post EPS of 4.13 for the current year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 18. Shareholders of record on Thursday August 4 received a dividend of $0.195. The ex-dividend date was Wednesday, August 3. This represents an annualized dividend of $0.78 and a dividend yield of 0.83%. Franklin Electric’s dividend payout ratio (DPR) is currently 20.97%.

Analysts set new price targets

A number of equity research analysts have weighed in on FELE shares recently. Seaport Res Ptn upgraded Franklin Electric from a “neutral” rating to a “buy” rating in a Wednesday, April 27 research report. Northcoast Research downgraded Franklin Electric from a “buy” rating to a “neutral” rating in a Monday, August 15 research report. DA Davidson raised its price target on Franklin Electric to $80.00 and gave the stock an “outperform” rating in a Wednesday, July 27 research report. Robert W. Baird raised his price target on Franklin Electric from $75.00 to $86.00 and gave the company a “neutral” rating in a Wednesday, July 27 report. Finally, StockNews.com upgraded Franklin Electric from a “hold” rating to a “buy” rating in a Saturday, July 30 report. Two analysts rated the stock with a hold rating and four gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.75.

Institutional investors weigh in on Franklin Electric

Several large investors have recently changed their stake in the company. BlackRock Inc. increased its holdings of Franklin Electric shares by 0.5% in the first quarter. BlackRock Inc. now owns 7,902,136 shares of the industrial products company worth $656,193,000 after acquiring 42,603 ​​additional shares last quarter. State Street Corp increased its position in shares of Franklin Electric by 18.7% during the second quarter. State Street Corp now owns 2,679,097 shares of the industrial products company worth $196,271,000 after purchasing an additional 421,342 shares during the period. Allianz Asset Management GmbH increased its position in Franklin Electric shares by 11.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,022,495 shares of the industrial products company worth $96,687,000 after purchasing an additional 102,989 shares during the period. Bank of America Corp DE increased its position in shares of Franklin Electric by 1.8% during the first quarter. Bank of America Corp DE now owns 786,830 shares of the industrial products company worth $65,339,000 after purchasing an additional 13,641 shares during the period. Finally, Geode Capital Management LLC increased its position in Franklin Electric shares by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 745,001 shares of the industrial products company worth $70,447,000 after purchasing an additional 40,450 shares during the period. 77.59% of the shares are currently held by institutional investors.

Franklin Electric Company Profile

(Get a rating)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Refueling Systems and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices and related parts and equipment.

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