By otakuyassine3@gmail.com 
Invesco Ltd. trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 556,990 shares of the industrial products company’s stock after selling 15,767 shares during the quarter. Invesco Ltd. owned 1.22% of Franklin Electric worth $54,279,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in shares of Franklin Electric during the 4th quarter worth $29,000. Trust Co. of Vermont purchased a new position in Franklin Electric in the fourth quarter valued at about $40,000. Blue Trust Inc. lifted its position in shares of Franklin Electric by 66.2% during the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 198 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Franklin Electric by 189.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 420 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of Franklin Electric by 150.2% during the 4th quarter. ORG Partners LLC now owns 833 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 500 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Franklin Electric
In other news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is owned by corporate insiders.
Franklin Electric Stock Performance
NASDAQ FELE opened at $88.91 on Wednesday. The business has a 50 day moving average price of $97.54 and a 200 day moving average price of $100.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The company has a market capitalization of $4.07 billion, a P/E ratio of 23.09, a PEG ratio of 2.11 and a beta of 1.02. Franklin Electric Co., Inc. has a 1-year low of $82.69 and a 1-year high of $111.94.
Franklin Electric (NASDAQ:FELE – Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. Sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.265 per share. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.19%. 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.
Featured Articles
Receive News & Ratings for Franklin Electric Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Franklin Electric and related companies with MarketBeat.com’s FREE daily email newsletter.