Franklin Electric Co., Inc. (NASDAQ:FELE) Stock Holdings Lessened by Global Retirement Partners LLC

Global Retirement Partners LLC lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 67.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,591 shares of the industrial products company’s stock after selling 9,649 shares during the period. Global Retirement Partners LLC’s holdings in Franklin Electric were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FELE. CWM LLC grew its holdings in shares of Franklin Electric by 16.7% during the third 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 last quarter. Covestor Ltd boosted its position in Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. grew its stake in 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 buying an additional 107 shares during the last quarter. Sanctuary Advisors LLC increased its position in Franklin Electric by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock worth $434,000 after buying an additional 145 shares during the period. Finally, MML Investors Services LLC lifted its stake in Franklin Electric by 2.6% in the third quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock valued at $634,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analysts Set New Price Targets

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

Franklin Electric Stock Down 1.7 %

FELE opened at $104.24 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 12 month low of $91.67 and a 12 month high of $111.94. The stock’s 50 day moving average price is $99.32 and its 200 day moving average price is $101.77. The stock has a market cap of $4.76 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.11 and a beta of 1.00.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. As a group, research analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.265 per share. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.02%. Franklin Electric’s payout ratio is presently 27.53%.

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.