BidaskClub upgraded shares of Franklin Electric (NASDAQ:FELE) from a strong sell rating to a sell rating in a research report report published on Thursday morning.
Several other equities research analysts also recently weighed in on FELE. Zacks Investment Research raised shares of Franklin Electric from a hold rating to a buy rating and set a $51.00 target price for the company in a research report on Tuesday, January 16th. Boenning Scattergood reaffirmed a buy rating and issued a $54.00 price target on shares of Franklin Electric in a report on Tuesday, February 20th. Gabelli reaffirmed a hold rating on shares of Franklin Electric in a report on Wednesday, February 21st. Robert W. Baird reaffirmed a hold rating and issued a $47.00 price target on shares of Franklin Electric in a report on Friday, February 23rd. Finally, Seaport Global Securities reaffirmed a hold rating and issued a $41.00 price target on shares of Franklin Electric in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Franklin Electric has a consensus rating of Hold and a consensus target price of $46.75.
Franklin Electric (NASDAQ:FELE) traded up $1.35 on Thursday, hitting $42.90. 84,454 shares of the stock traded hands, compared to its average volume of 130,115. The company has a market cap of $2,000.43, a P/E ratio of 25.84 and a beta of 1.60. Franklin Electric has a one year low of $36.00 and a one year high of $47.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.40 and a quick ratio of 1.13.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a $0.108 dividend. This represents a $0.43 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, January 31st. Franklin Electric’s dividend payout ratio (DPR) is presently 25.90%.
Several hedge funds and other institutional investors have recently bought and sold shares of FELE. Channing Capital Management LLC boosted its holdings in shares of Franklin Electric by 81.9% in the 4th quarter. Channing Capital Management LLC now owns 1,253,084 shares of the industrial products company’s stock valued at $57,517,000 after buying an additional 564,379 shares during the period. Impax Asset Management LTD boosted its stake in Franklin Electric by 18.7% during the 3rd quarter. Impax Asset Management LTD now owns 1,816,445 shares of the industrial products company’s stock valued at $81,468,000 after purchasing an additional 285,940 shares during the period. Deutsche Bank AG boosted its stake in Franklin Electric by 82.7% during the 4th quarter. Deutsche Bank AG now owns 284,875 shares of the industrial products company’s stock valued at $13,071,000 after purchasing an additional 128,965 shares during the period. Assenagon Asset Management S.A. acquired a new position in Franklin Electric during the 4th quarter valued at about $3,727,000. Finally, BlackRock Inc. boosted its stake in Franklin Electric by 1.3% during the 4th quarter. BlackRock Inc. now owns 5,311,651 shares of the industrial products company’s stock valued at $243,805,000 after purchasing an additional 68,462 shares during the period. 76.58% of the stock is owned by institutional investors and hedge funds.
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Franklin Electric Company Profile
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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