Franklin Electric Co., Inc. (NASDAQ:FELE) Declares $0.25 Quarterly Dividend

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Thursday, May 2nd will be given a dividend of 0.25 per share by the industrial products company on Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, May 1st.

Franklin Electric has increased its dividend payment by an average of 13.2% per year over the last three years and has raised its dividend annually for the last 32 consecutive years. Franklin Electric has a dividend payout ratio of 21.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $4.71 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.2%.

Franklin Electric Trading Up 0.5 %

Shares of NASDAQ:FELE opened at $103.24 on Tuesday. Franklin Electric has a 12-month low of $82.61 and a 12-month high of $107.89. The company has a market capitalization of $4.75 billion, a PE ratio of 25.12, a PEG ratio of 1.98 and a beta of 0.96. The business has a 50 day moving average of $102.41 and a two-hundred day moving average of $95.80. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The company had revenue of $472.97 million during the quarter, compared to analyst estimates of $490.47 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. As a group, analysts forecast that Franklin Electric will post 4.32 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on FELE shares. StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 14th. Northcoast Research upgraded Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Friday, February 23rd. Finally, Robert W. Baird boosted their price target on Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Franklin Electric has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Insiders Place Their Bets

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the transaction, the chief executive officer now owns 154,993 shares of the company’s stock, valued at $15,493,100.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Company 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.