Franklin Electric Co., Inc. (NASDAQ:FELE) Increases Dividend to $0.27 Per Share

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, January 27th,RTT News reports. Shareholders of record on Thursday, February 6th will be given a dividend of 0.265 per share by the industrial products company on Thursday, February 20th. This represents a $1.06 dividend on an annualized basis and a yield of 1.08%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25.

Franklin Electric has increased its dividend by an average of 12.6% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Franklin Electric has a dividend payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Franklin Electric to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.2%.

Franklin Electric Trading Down 0.5 %

NASDAQ:FELE opened at $98.57 on Monday. The stock’s 50 day moving average price is $101.73 and its 200 day moving average price is $101.87. Franklin Electric has a 52 week low of $91.67 and a 52 week high of $111.94. The company has a market capitalization of $4.50 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. On average, research analysts forecast that Franklin Electric will post 3.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was 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. Corporate 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.