Fortress Financial Solutions LLC purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,001 shares of the industrial products company’s stock, valued at approximately $390,000.
A number of other institutional investors and hedge funds have also modified their holdings of FELE. CWM LLC raised its position in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 98 shares during the last quarter. Covestor Ltd increased its stake 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 purchasing an additional 103 shares in the last quarter. Blue Trust Inc. increased its stake 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 purchasing an additional 107 shares in the last quarter. MML Investors Services LLC raised its position in shares of Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after purchasing an additional 156 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.
Analyst Ratings Changes
Separately, Robert W. Baird dropped their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.
Franklin Electric Price Performance
Franklin Electric stock opened at $101.50 on Wednesday. The firm’s 50-day moving average is $100.08 and its two-hundred day moving average is $101.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The stock has a market capitalization of $4.64 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.97 and a beta of 1.00. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94.
Franklin Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a $0.265 dividend. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 6th. Franklin Electric’s payout ratio is presently 26.84%.
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.
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