Bank of New York Mellon Corp increased its holdings in Franklin Electric Co. (NASDAQ:FELE) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,050 shares of the industrial products company’s stock after purchasing an additional 58,756 shares during the period. Bank of New York Mellon Corp owned 1.31% of Franklin Electric worth $27,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Manchester Capital Management LLC raised its holdings in shares of Franklin Electric by 0.3% during the 2nd quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock worth $792,000 after acquiring an additional 50 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Franklin Electric by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock worth $833,000 after acquiring an additional 100 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Franklin Electric by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 116 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Franklin Electric by 2.3% during the 2nd quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 238 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of Franklin Electric by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock worth $1,165,000 after acquiring an additional 276 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on FELE. Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price objective on shares of Franklin Electric in a report on Wednesday, October 4th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. Zacks Investment Research cut Franklin Electric from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Boenning Scattergood reaffirmed a “buy” rating on shares of Franklin Electric in a report on Tuesday, October 24th. Finally, BidaskClub cut Franklin Electric from a “hold” rating to a “sell” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.33.

Franklin Electric Co. (NASDAQ:FELE) opened at $45.25 on Tuesday. The firm has a market capitalization of $2,113.16, a P/E ratio of 24.92 and a beta of 1.62. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. Franklin Electric Co. has a 12-month low of $36.00 and a 12-month high of $47.20.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $311.11 million for the quarter, compared to the consensus estimate of $317.54 million. Franklin Electric had a return on equity of 13.09% and a net margin of 8.13%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. analysts forecast that Franklin Electric Co. will post 1.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were given a dividend of $0.1075 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, November 1st. Franklin Electric’s dividend payout ratio is currently 23.12%.

In other news, VP Donald P. Kenney sold 4,754 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $45.00, for a total transaction of $213,930.00. Following the transaction, the vice president now owns 19,129 shares of the company’s stock, valued at approximately $860,805. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.54% of the company’s stock.

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About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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