Gregg C. Sengstack Sells 1,500 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) 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 completion of the sale, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Franklin Electric Stock Performance

Shares of NASDAQ FELE traded up $8.67 during trading hours on Wednesday, hitting $109.47. 100,551 shares of the company’s stock were exchanged, compared to its average volume of 175,417. Franklin Electric Co., Inc. has a 1-year low of $85.82 and a 1-year high of $110.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 2.13 and a beta of 0.96. The company’s 50-day moving average price is $101.53 and its 200-day moving average price is $100.09.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 3.82 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.91%. Franklin Electric’s dividend payout ratio is 25.32%.

Hedge Funds Weigh In On Franklin Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Merchants Corp bought a new stake in shares of Franklin Electric in the 2nd quarter valued at approximately $19,054,000. F M Investments LLC bought a new stake in shares of Franklin Electric in the 2nd quarter valued at approximately $9,158,000. Assenagon Asset Management S.A. grew its stake in shares of Franklin Electric by 116.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock valued at $15,951,000 after purchasing an additional 89,128 shares during the period. KBC Group NV grew its stake in shares of Franklin Electric by 19.6% in the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after purchasing an additional 63,436 shares during the period. Finally, Edgestream Partners L.P. grew its stake in shares of Franklin Electric by 328.4% in the 2nd quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock valued at $6,206,000 after purchasing an additional 49,391 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Company Profile

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.