Franklin Electric (NASDAQ:FELE) Reaches New 52-Week High at $108.26

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $108.26 and last traded at $108.26, with a volume of 63506 shares changing hands. The stock had previously closed at $105.93.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. DA Davidson raised their price target on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th.

Franklin Electric Stock Up 0.7 %

The company has a market cap of $4.87 billion, a PE ratio of 26.52, a P/E/G ratio of 2.06 and a beta of 0.96. The stock has a 50-day moving average of $98.56 and a 200-day moving average of $99.72. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The business had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. Franklin Electric’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts predict that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, August 1st. Franklin Electric’s payout ratio is 24.88%.

Insider Activity at Franklin Electric

In other news, insider Gregg C. Sengstack sold 5,396 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the transaction, the insider now directly owns 98,093 shares in the company, valued at approximately $10,460,637.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jay J. Walsh sold 14,090 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $104.57, for a total value of $1,473,391.30. Following the completion of the sale, the insider now owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregg C. Sengstack sold 5,396 shares of Franklin Electric stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total transaction of $575,429.44. Following the completion of the transaction, the insider now owns 98,093 shares in the company, valued at approximately $10,460,637.52. The disclosure for this sale can be found here. Insiders have sold a total of 28,091 shares of company stock valued at $2,930,450 over the last 90 days. 2.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in Franklin Electric during the 4th quarter valued at about $26,000. Principal Securities Inc. bought a new stake in Franklin Electric in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC boosted its stake in shares of Franklin Electric by 88.0% during the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 147 shares during the period. ORG Partners LLC bought a new position in shares of Franklin Electric in the second quarter worth approximately $36,000. Finally, Signaturefd LLC increased its stake in shares of Franklin Electric by 35.3% in the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after buying an additional 141 shares during the period. 79.98% of the stock is owned by institutional investors.

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.