Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. reduced its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,333 shares of the industrial products company’s stock after selling 700 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.05% of Franklin Electric worth $2,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in Franklin Electric by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 18,124 shares of the industrial products company’s stock valued at $1,746,000 after purchasing an additional 2,523 shares in the last quarter. Van Hulzen Asset Management LLC grew its holdings in shares of Franklin Electric by 6.9% during the second quarter. Van Hulzen Asset Management LLC now owns 11,348 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 728 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of Franklin Electric in the 2nd quarter valued at $247,000. Arizona State Retirement System raised its stake in Franklin Electric by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 10,971 shares of the industrial products company’s stock worth $1,057,000 after acquiring an additional 195 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Franklin Electric by 4.0% during the 2nd quarter. Victory Capital Management Inc. now owns 14,073 shares of the industrial products company’s stock worth $1,356,000 after acquiring an additional 537 shares during the period. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Stock Up 1.5 %

Franklin Electric stock opened at $97.16 on Friday. The business’s 50-day simple moving average is $100.05 and its two-hundred day simple moving average is $100.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. The company has a market cap of $4.44 billion, a PE ratio of 24.17, a PEG ratio of 1.88 and a beta of 0.95. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $108.39.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The firm had revenue of $543.30 million during the quarter, compared to analysts’ expectations of $570.80 million. During the same quarter in the prior year, the company earned $1.27 EPS. Franklin Electric’s quarterly revenue was down 4.6% on a year-over-year basis. Equities analysts anticipate that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the transaction, the insider now owns 16,927 shares in the company, valued at approximately $1,770,056.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Gregg C. Sengstack sold 5,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the sale, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the transaction, the insider now directly owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,486 shares of company stock valued at $2,568,171. 2.72% of the stock is owned by insiders.

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.