The Manufacturers Life Insurance Company reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,543 shares of the industrial products company’s stock after selling 214 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Franklin Electric Co. worth $1,471,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Advisor Group Inc. raised its stake in Franklin Electric Co. by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 116 shares during the period. Victory Capital Management Inc. raised its stake in Franklin Electric Co. by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 512 shares during the period. Dubuque Bank & Trust Co. raised its stake in Franklin Electric Co. by 6.7% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 5,361 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 338 shares during the period. Amalgamated Bank raised its stake in Franklin Electric Co. by 4.9% during the 2nd quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Franklin Electric Co. by 9.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,616 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 585 shares during the period. 79.37% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Franklin Electric Co., Inc. (FELE) Holdings Cut by The Manufacturers Life Insurance Company” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.watchlistnews.com/franklin-electric-co-inc-fele-holdings-cut-by-the-manufacturers-life-insurance-company/1689698.html.

Several analysts have issued reports on FELE shares. Zacks Investment Research downgraded shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Boenning Scattergood reissued an “outperform” rating on shares of Franklin Electric Co. in a research note on Tuesday, September 5th. BidaskClub downgraded shares of Franklin Electric Co. from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of Franklin Electric Co. in a research note on Wednesday, October 4th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric Co. in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.33.

Franklin Electric Co., Inc. (FELE) opened at $43.75 on Thursday. Franklin Electric Co., Inc. has a one year low of $35.25 and a one year high of $46.95. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2,029.28, a price-to-earnings ratio of 23.93 and a beta of 1.62.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be paid a $0.1075 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, November 1st. Franklin Electric Co.’s dividend payout ratio (DPR) is presently 23.12%.

In other news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $45.00, for a total value of $213,930.00. Following the transaction, the vice president now directly owns 19,129 shares of the company’s stock, valued at $860,805. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.54% of the company’s stock.

Franklin Electric Co. Profile

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.

Want to see what other hedge funds are holding FELE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Electric Co., Inc. (NASDAQ:FELE).

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

Receive News & Ratings for Franklin Electric Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.