Franklin Electric Co. (NASDAQ:FELE) insider Delancey W. Davis sold 2,400 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $50.26, for a total transaction of $120,624.00. Following the transaction, the insider now directly owns 18,486 shares of the company’s stock, valued at $929,106.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ FELE traded up $0.34 during midday trading on Friday, hitting $50.57. 4,138 shares of the company traded hands, compared to its average volume of 96,226. Franklin Electric Co. has a 12-month low of $38.87 and a 12-month high of $55.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.98 and a current ratio of 2.15. The stock has a 50-day moving average price of $45.83 and a 200 day moving average price of $47.69. The firm has a market cap of $2.23 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.35 and a beta of 1.31.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a net margin of 7.36% and a return on equity of 13.17%. The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $358.31 million. During the same quarter in the prior year, the firm earned $0.65 EPS. Franklin Electric’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Franklin Electric Co. will post 2.21 earnings per share for the current year.
Several brokerages have recently commented on FELE. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Friday.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Franklin Electric during the first quarter valued at about $536,000. GYL Financial Synergies LLC purchased a new stake in Franklin Electric in the first quarter worth about $929,000. Piedmont Investment Advisors Inc. grew its holdings in Franklin Electric by 6.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 9,949 shares of the industrial products company’s stock worth $508,000 after purchasing an additional 583 shares during the period. King Luther Capital Management Corp grew its holdings in Franklin Electric by 1.8% in the second quarter. King Luther Capital Management Corp now owns 1,242,118 shares of the industrial products company’s stock worth $59,001,000 after purchasing an additional 22,555 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Franklin Electric in the second quarter worth about $1,782,000. Institutional investors own 77.53% of the company’s stock.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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