Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, April 26th, Zacks reports. Stockholders of record on Thursday, May 6th will be given a dividend of 0.175 per share by the industrial products company on Thursday, May 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, May 5th.
Franklin Electric has raised its dividend payment by 46.8% over the last three years and has increased its dividend annually for the last 1 consecutive years. Franklin Electric has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $2.47 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 28.3%.
Shares of FELE stock opened at $83.98 on Tuesday. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 42.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 3.21. Franklin Electric has a one year low of $43.00 and a one year high of $84.07. The company’s 50-day moving average is $80.25 and its 200 day moving average is $72.66.
In other news, insider Delancey W. Davis sold 14,257 shares of the business’s stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $74.62, for a total transaction of $1,063,857.34. Following the completion of the sale, the insider now owns 15,643 shares of the company’s stock, valued at approximately $1,167,280.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay J. Walsh sold 1,985 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $79.29, for a total value of $157,390.65. Following the completion of the sale, the insider now owns 11,669 shares of the company’s stock, valued at $925,235.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,092 shares of company stock valued at $2,565,023. Corporate insiders own 2.79% of the company’s stock.
FELE has been the subject of several research analyst reports. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Wednesday, April 28th. DA Davidson lifted their price target on shares of Franklin Electric from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, March 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $79.67.
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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