Trust Point Inc. Decreases Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Trust Point Inc. reduced its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,241 shares of the industrial products company’s stock after selling 780 shares during the quarter. Trust Point Inc.’s holdings in Franklin Electric were worth $864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after buying an additional 147 shares during the last quarter. ORG Partners LLC purchased a new position in Franklin Electric during the 2nd quarter worth approximately $36,000. CWM LLC raised its position in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after buying an additional 98 shares during the last quarter. USA Financial Formulas purchased a new position in Franklin Electric during the 3rd quarter worth approximately $74,000. Finally, Intech Investment Management LLC purchased a new position in Franklin Electric during the 2nd quarter worth approximately $203,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the sale, the insider now owns 16,927 shares of the company’s stock, valued at $1,770,056.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction on Friday, July 26th. The stock was sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the transaction, the insider now owns 16,927 shares in the company, valued at $1,770,056.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregg C. Sengstack sold 5,396 shares of Franklin Electric stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the transaction, the insider now owns 98,093 shares in the company, valued at approximately $10,460,637.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,486 shares of company stock valued at $2,568,171. 2.72% of the stock is owned by company insiders.

Franklin Electric Stock Performance

FELE opened at $104.53 on Friday. Franklin Electric Co., Inc. has a 12-month low of $82.61 and a 12-month high of $108.39. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.82 billion, a PE ratio of 26.00, a P/E/G ratio of 2.07 and a beta of 0.95. The firm has a 50 day moving average of $101.56 and a two-hundred day moving average of $100.27.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. Franklin Electric’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 EPS. On average, analysts anticipate that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. Franklin Electric’s dividend payout ratio is currently 24.88%.

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.