Franklin Electric Co., Inc. $FELE Stock: Redmond Asset Management LLC Lowers Stake

Redmond Asset Management LLC lessened its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 70.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,530 shares of the industrial products company’s stock after selling 8,500 shares during the quarter. Redmond Asset Management LLC’s holdings in Franklin Electric were worth $338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Franklin Electric during the 2nd quarter valued at $698,173,000. Bank of America Corp DE purchased a new stake in Franklin Electric during the 2nd quarter valued at $82,970,000. Legal & General Group Plc bought a new stake in Franklin Electric in the 2nd quarter worth $33,805,000. Bank of New York Mellon Corp bought a new stake in Franklin Electric in the 2nd quarter worth $33,230,000. Finally, Medina Value Partners LLC purchased a new position in shares of Franklin Electric in the second quarter valued at about $25,122,549. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

NASDAQ:FELE opened at $96.74 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.33 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $98.57 and its 200 day simple moving average is $100.20. The stock has a market cap of $4.28 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03. Franklin Electric Co., Inc. has a twelve month low of $89.54 and a twelve month high of $115.82.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. Franklin Electric had a net margin of 8.83% and a return on equity of 15.45%. The business had revenue of $633.62 million during the quarter, compared to analyst estimates of $617.19 million. During the same period in the prior year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts predict that Franklin Electric Co., Inc. will post 4.70 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. Franklin Electric’s payout ratio is currently 32.28%.

Key Stories Impacting Franklin Electric

Here are the key news stories impacting Franklin Electric this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Franklin Electric reported adjusted EPS of $1.50, above the $1.40 analyst consensus and up from $1.30 a year earlier. Revenue rose 8.9% year over year to $633.62 million, surpassing expectations of $617.19 million. Franklin Electric Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Challenge Pumps acquisition expands mining exposure. Franklin Electric agreed to acquire Australia-based Challenge Pumps for approximately $181 million, with the transaction value potentially reaching $195 million. Management expects the deal to be accretive to earnings in 2027, providing a potential growth catalyst and strengthening the company’s presence in mining-related pumping markets. Franklin Electric to Buy Challenge Pumps
• Positive Sentiment: Full-year earnings guidance is slightly above the midpoint of estimates. Franklin Electric expects 2026 adjusted EPS of $4.62 to $4.82, representing a midpoint of $4.72 versus the $4.67 consensus estimate. Franklin Electric 2026 EPS Outlook
• Neutral Sentiment: Management will participate in upcoming investor conferences. The events may provide additional information about demand trends, the Challenge Pumps integration and the company’s outlook, but the announcement itself does not change financial forecasts. Franklin Electric Investor Conferences

Analysts Set New Price Targets

A number of research firms have issued reports on FELE. DA Davidson restated a “neutral” rating and issued a $105.00 price objective on shares of Franklin Electric in a research report on Wednesday, September 9th. Robert W. Baird set a $130.00 target price on shares of Franklin Electric in a report on Thursday. Weiss Ratings raised Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Sunday, October 25th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Franklin Electric presently has an average rating of “Hold” and an average target price of $117.50.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.