Franklin Electric (NASDAQ:FELE) Hits New 12-Month High – Here’s What Happened

Franklin Electric Co., Inc. (NASDAQ:FELE)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $109.98 and last traded at $109.65, with a volume of 31018 shares trading hands. The stock had previously closed at $100.80.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price on 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 Stock Down 0.6 %

The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 2.16 and a beta of 0.96. The business has a 50 day simple moving average of $101.88 and a 200-day simple moving average of $100.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

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

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Insider Buying and Selling

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Franklin Electric

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares during the period. Covestor Ltd raised its position in shares of Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. raised its position in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 107 shares in the last quarter. Marshall Wace LLP raised its position in shares of Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after acquiring an additional 109 shares in the last quarter. Finally, Duality Advisers LP raised its position in shares of Franklin Electric by 1.6% during the 1st quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock worth $946,000 after acquiring an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

About Franklin Electric

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.