SkyOak Wealth LLC Sells 590 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

SkyOak Wealth LLC reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,088 shares of the industrial products company’s stock after selling 590 shares during the period. SkyOak Wealth LLC’s holdings in Franklin Electric were worth $203,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Franklin Electric by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after purchasing an additional 40,248 shares during the period. Geode Capital Management LLC raised its holdings in Franklin Electric by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock valued at $105,264,000 after acquiring an additional 9,170 shares during the period. Boston Trust Walden Corp lifted its position in shares of Franklin Electric by 0.6% during the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 3,847 shares in the last quarter. KBC Group NV lifted its position in shares of Franklin Electric by 7.3% during the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock worth $40,459,000 after acquiring an additional 28,121 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in shares of Franklin Electric by 1.2% in the fourth quarter. Tributary Capital Management LLC now owns 181,123 shares of the industrial products company’s stock worth $17,650,000 after acquiring an additional 2,212 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

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 that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Franklin Electric Stock Performance

Franklin Electric stock opened at $99.99 on Monday. The firm’s 50 day simple moving average is $101.03 and its 200 day simple moving average is $101.80. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-year high of $111.94. The firm has a market capitalization of $4.57 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.93 and a beta of 1.00.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Analyst Ratings Changes

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

Franklin Electric Company 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.