Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 55.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,146 shares of the industrial products company’s stock after selling 2,666 shares during the quarter. Great Lakes Advisors LLC’s holdings in Franklin Electric were worth $209,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in shares of Franklin Electric in the fourth quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in Franklin Electric in the 4th quarter valued at $40,000. Blue Trust Inc. boosted its stake in Franklin Electric by 66.2% during the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 198 shares during the period. Smartleaf Asset Management LLC grew its position in Franklin Electric by 189.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 420 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Franklin Electric in the third quarter valued at $77,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the transaction, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE opened at $100.08 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The firm has a 50-day simple moving average of $100.00 and a 200-day simple moving average of $101.89. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The company had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.265 dividend. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, February 6th. Franklin Electric’s payout ratio is currently 27.53%.

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.