Franklin Electric (NASDAQ:FELE) Hits New 1-Year High – Here’s Why

Franklin Electric Co., Inc. (NASDAQ:FELE)’s stock price reached a new 52-week high on Monday . The stock traded as high as $111.35 and last traded at $110.80, with a volume of 3971 shares. The stock had previously closed at $109.06.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

Franklin Electric Price Performance

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 firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 2.41 and a beta of 0.96. The company’s 50 day moving average is $104.26 and its 200-day moving average is $100.81.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data 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). The business had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 earnings per share. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders 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 0.93%. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the transaction, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares in the last quarter. ORG Partners LLC acquired a new stake in Franklin Electric in the 2nd quarter worth about $36,000. GAMMA Investing LLC raised its stake in Franklin Electric by 130.6% in the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 410 shares in the last quarter. CWM LLC boosted its holdings in 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 purchasing an additional 98 shares during the period. Finally, USA Financial Formulas acquired a new position in shares of Franklin Electric during the 3rd quarter worth approximately $74,000. 79.98% of the stock is owned by institutional investors and hedge funds.

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.