2,250 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Acquired by Heritage Family Offices LLP

Heritage Family Offices LLP purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,250 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently modified their holdings of FELE. Principal Securities Inc. bought a new stake in shares of Franklin Electric in the 4th quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 147 shares during the period. ORG Partners LLC bought a new stake in Franklin Electric during the 2nd quarter valued at $36,000. Signaturefd LLC raised its holdings in Franklin Electric by 35.3% during the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 141 shares during the period. Finally, TFO Wealth Partners LLC raised its holdings in Franklin Electric by 121,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 1,214 shares during the period. Institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 5,396 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total value of $575,429.44. Following the transaction, the insider now owns 98,093 shares of the company’s stock, valued at $10,460,637.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Jonathan M. Grandon sold 1,391 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total value of $136,318.00. Following the completion of the transaction, the insider now directly owns 18,103 shares in the company, valued at $1,774,094. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregg C. Sengstack sold 5,396 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total transaction of $575,429.44. Following the completion of the transaction, the insider now owns 98,093 shares of the company’s stock, valued at $10,460,637.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,877 shares of company stock valued at $2,704,489. 2.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th.

Franklin Electric Trading Up 0.9 %

Shares of FELE stock opened at $103.86 on Friday. The company’s fifty day simple moving average is $99.71 and its two-hundred day simple moving average is $100.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $108.39. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.02 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). The firm had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. Franklin Electric’s payout ratio is currently 24.88%.

Franklin Electric Profile

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.