Brokerages Set Franklin Electric Co., Inc. (NASDAQ:FELE) Target Price at $100.00

Franklin Electric Co., Inc. (NASDAQ:FELE) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $100.00.

Several equities analysts have recently weighed in on FELE shares. StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 14th. Robert W. Baird boosted their price target on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Friday, February 23rd.

Franklin Electric Trading Down 0.8 %

FELE stock opened at $100.19 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.97 and a debt-to-equity ratio of 0.07. Franklin Electric has a twelve month low of $82.61 and a twelve month high of $107.89. The company has a market cap of $4.61 billion, a P/E ratio of 24.38, a PEG ratio of 1.94 and a beta of 0.96. The business has a fifty day moving average of $101.79 and a 200-day moving average of $95.00.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). The business had revenue of $472.97 million for the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. As a group, equities research analysts expect that Franklin Electric will post 4.32 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a $0.25 dividend. This is an increase from Franklin Electric’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, January 31st. Franklin Electric’s payout ratio is 24.33%.

Insider Transactions at Franklin Electric

In other news, CEO Gregg C. Sengstack sold 10,366 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the transaction, the chief executive officer now directly owns 154,993 shares of the company’s stock, valued at $15,493,100.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Franklin Electric by 23.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,332 shares of the industrial products company’s stock worth $2,171,000 after buying an additional 4,582 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Franklin Electric by 37.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 26,778 shares of the industrial products company’s stock valued at $2,588,000 after acquiring an additional 7,325 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Franklin Electric during the third quarter worth about $767,000. Vanguard Group Inc. lifted its holdings in shares of Franklin Electric by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,656,427 shares of the industrial products company’s stock worth $415,493,000 after acquiring an additional 17,092 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Franklin Electric by 12.5% in the third quarter. Inspire Investing LLC now owns 3,521 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 392 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

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.