Franklin Electric Co., Inc. $FELE Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 979,539 shares of the industrial products company’s stock after selling 53,308 shares during the quarter. Geode Capital Management LLC’s holdings in Franklin Electric were worth $87,913,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CWM LLC lifted its holdings in Franklin Electric by 60.7% in the first quarter. CWM LLC now owns 1,175 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 444 shares during the period. Victory Capital Management Inc. grew its stake in shares of Franklin Electric by 8.8% during the 1st quarter. Victory Capital Management Inc. now owns 15,464 shares of the industrial products company’s stock worth $1,452,000 after purchasing an additional 1,245 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Franklin Electric in the 1st quarter valued at about $843,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Franklin Electric by 7.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,357 shares of the industrial products company’s stock valued at $972,000 after purchasing an additional 717 shares during the period. Finally, First National Advisers LLC acquired a new stake in shares of Franklin Electric in the first quarter valued at about $730,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on FELE shares. Wall Street Zen cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a report on Tuesday. Finally, Robert W. Baird set a $112.00 price objective on Franklin Electric in a report on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric presently has a consensus rating of “Hold” and an average price target of $112.00.

Franklin Electric Price Performance

FELE stock opened at $93.05 on Friday. The stock’s 50 day moving average price is $94.89 and its 200 day moving average price is $92.64. The firm has a market cap of $4.14 billion, a P/E ratio of 30.31, a PEG ratio of 1.91 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 2.54. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.01. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The company had revenue of $581.71 million during the quarter, compared to analysts’ expectations of $563.18 million. During the same period in the previous year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.06 annualized dividend and a yield of 1.1%. Franklin Electric’s payout ratio is presently 34.53%.

About Franklin Electric

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.