Franklin Electric Co. (NASDAQ:FELE) VP Donald P. Kenney Sells 474 Shares

Franklin Electric Co. (NASDAQ:FELE) VP Donald P. Kenney sold 474 shares of Franklin Electric stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $56.50, for a total transaction of $26,781.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ FELE traded down $1.49 during trading hours on Friday, hitting $53.55. The stock had a trading volume of 14,082 shares, compared to its average volume of 179,943. The company has a market capitalization of $2.48 billion, a P/E ratio of 28.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.22 and a current ratio of 3.16. The firm’s 50-day moving average price is $51.68 and its two-hundred day moving average price is $52.19. Franklin Electric Co. has a 52 week low of $41.25 and a 52 week high of $61.49.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Franklin Electric had a return on equity of 11.70% and a net margin of 7.16%. The firm had revenue of $308.28 million during the quarter, compared to analysts’ expectations of $298.26 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. As a group, analysts expect that Franklin Electric Co. will post 1.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.16%. Franklin Electric’s dividend payout ratio (DPR) is presently 29.95%.

Hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new position in shares of Franklin Electric during the first quarter worth approximately $408,000. Geode Capital Management LLC lifted its holdings in shares of Franklin Electric by 5.1% during the first quarter. Geode Capital Management LLC now owns 614,334 shares of the industrial products company’s stock worth $28,952,000 after buying an additional 29,686 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Franklin Electric by 22.9% during the first quarter. State of Alaska Department of Revenue now owns 35,697 shares of the industrial products company’s stock worth $1,682,000 after buying an additional 6,655 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Franklin Electric by 24.3% during the first quarter. Texas Permanent School Fund now owns 32,724 shares of the industrial products company’s stock worth $1,542,000 after buying an additional 6,403 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Franklin Electric by 46.5% during the first quarter. BNP Paribas Arbitrage SA now owns 18,857 shares of the industrial products company’s stock worth $889,000 after buying an additional 5,989 shares during the last quarter. Institutional investors own 76.54% of the company’s stock.

A number of brokerages recently issued reports on FELE. Zacks Investment Research upgraded shares of Franklin Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. DA Davidson downgraded shares of Franklin Electric from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Thursday, July 2nd. BidaskClub upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Sidoti assumed coverage on shares of Franklin Electric in a research report on Wednesday, July 1st. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.00.

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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