Geode Capital Management LLC Buys 9,170 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Geode Capital Management LLC raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,004,057 shares of the industrial products company’s stock after acquiring an additional 9,170 shares during the period. Geode Capital Management LLC’s holdings in Franklin Electric were worth $105,264,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Franklin Electric by 40.0% during the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock valued at $2,532,000 after purchasing an additional 7,092 shares in the last quarter. Intech Investment Management LLC boosted its stake in Franklin Electric by 420.9% during the third quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock valued at $1,153,000 after buying an additional 8,889 shares during the last quarter. Blue Trust Inc. grew its holdings in Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares in the last quarter. PDT Partners LLC increased its stake in Franklin Electric by 241.8% in the 3rd quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock worth $1,261,000 after acquiring an additional 8,510 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Franklin Electric by 73.1% during the 3rd quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock worth $6,176,000 after acquiring an additional 24,889 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Trading Down 4.5 %

FELE opened at $99.31 on Thursday. Franklin Electric Co., Inc. has a 12 month low of $91.45 and a 12 month high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $105.12 and a 200 day moving average of $101.60. The firm has a market cap of $4.54 billion, a P/E ratio of 25.14, a P/E/G ratio of 2.35 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price target on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th.

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.