OLD National Bancorp IN Invests $2.01 Million in Franklin Electric Co., Inc. $FELE

OLD National Bancorp IN acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,803 shares of the industrial products company’s stock, valued at approximately $2,010,000.

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in Franklin Electric by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Franklin Electric by 31.2% during the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 101 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Franklin Electric by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,885 shares of the industrial products company’s stock worth $787,000 after buying an additional 111 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Franklin Electric by 1.0% in the 4th quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 115 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

FELE has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday, June 9th. DA Davidson reaffirmed a “neutral” rating and set a $100.00 target price on shares of Franklin Electric in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $106.00.

Franklin Electric Trading Down 0.9%

Shares of NASDAQ:FELE opened at $107.89 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $100.68 and its 200 day moving average price is $98.93. The company has a market cap of $4.77 billion, a PE ratio of 32.50, a P/E/G ratio of 1.96 and a beta of 1.05. Franklin Electric Co., Inc. has a fifty-two week low of $88.63 and a fifty-two week high of $111.53.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $500.44 million for the quarter, compared to analyst estimates of $479.21 million. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. Franklin Electric’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, May 7th. Franklin Electric’s dividend payout ratio (DPR) is currently 33.73%.

Insider Buying and Selling at Franklin Electric

In related news, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the sale, the insider directly owned 7,509 shares in the company, valued at $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total transaction of $190,000.00. Following the sale, the insider owned 10,402 shares in the company, valued at approximately $1,040,200. This represents a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,835 shares of company stock worth $2,004,982 in the last ninety days. 2.89% of the stock is owned by company insiders.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.