Franklin Electric (NASDAQ:FELE) Sets New 1-Year High – What’s Next?

Franklin Electric Co., Inc. (NASDAQ:FELE) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $111.35 and last traded at $110.80, with a volume of 3971 shares. The stock had previously closed at $109.06.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

Franklin Electric Stock Up 2.2 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The firm’s 50-day moving average is $103.86 and its 200 day moving average is $100.71.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same period last year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FELE. Blue Trust Inc. grew its stake in Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 107 shares in the last quarter. ORG Partners LLC purchased a new position in Franklin Electric in the second quarter valued at about $36,000. GAMMA Investing LLC grew its stake in Franklin Electric by 130.6% in the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 410 shares in the last quarter. CWM LLC grew its stake in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in Franklin Electric in the third quarter valued at about $74,000. Hedge funds and other institutional investors own 79.98% 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.