2,741 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,741 shares of the industrial products company’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Franklin Electric in the fourth quarter worth approximately $48,711,000. Running Oak Capital LLC lifted its holdings in Franklin Electric by 17.9% during the fourth quarter. Running Oak Capital LLC now owns 92,593 shares of the industrial products company’s stock valued at $8,949,000 after purchasing an additional 14,074 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Franklin Electric by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,526 shares of the industrial products company’s stock valued at $45,476,000 after purchasing an additional 8,226 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Franklin Electric by 37.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 26,778 shares of the industrial products company’s stock valued at $2,588,000 after purchasing an additional 7,325 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Franklin Electric during the fourth quarter valued at approximately $740,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE stock traded down $1.11 during mid-day trading on Friday, hitting $102.51. The company had a trading volume of 172,134 shares, compared to its average volume of 170,168. The stock’s 50 day moving average price is $97.98 and its 200-day moving average price is $99.10. Franklin Electric Co., Inc. has a 52-week low of $82.61 and a 52-week high of $107.89. The company has a market capitalization of $4.72 billion, a P/E ratio of 25.50, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.85 and a quick ratio of 1.17.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The business had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. During the same quarter in the prior year, the firm posted $0.79 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities research analysts forecast that Franklin Electric Co., Inc. will post 4.27 earnings per share for the current year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, May 1st. Franklin Electric’s dividend payout ratio is presently 24.88%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FELE. DA Davidson lifted their price target on shares of Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. StockNews.com downgraded shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Jonathan M. Grandon sold 1,391 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total transaction of $136,318.00. Following the transaction, the insider now owns 18,103 shares in the company, valued at $1,774,094. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Franklin Electric news, insider Jonathan M. Grandon sold 1,391 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total transaction of $136,318.00. Following the transaction, the insider now owns 18,103 shares in the company, valued at $1,774,094. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Delancey W. Davis sold 2,214 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the transaction, the insider now owns 8,014 shares in the company, valued at $817,908.84. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

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.