Franklin Electric Co., Inc. $FELE Stock Position Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 980,243 shares of the industrial products company’s stock after selling 14,934 shares during the quarter. King Luther Capital Management Corp owned about 2.22% of Franklin Electric worth $93,996,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Franklin Electric during the 2nd quarter worth approximately $698,173,000. Dimensional Fund Advisors LP boosted its holdings in shares of Franklin Electric by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock valued at $93,059,000 after buying an additional 36,268 shares during the period. Bank of America Corp DE acquired a new position in shares of Franklin Electric in the second quarter valued at approximately $82,970,000. Amundi boosted its holdings in shares of Franklin Electric by 25.2% in the first quarter. Amundi now owns 881,425 shares of the industrial products company’s stock valued at $81,225,000 after buying an additional 177,433 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in shares of Franklin Electric by 81.4% during the first quarter. Segall Bryant & Hamill LLC now owns 481,906 shares of the industrial products company’s stock worth $44,417,000 after acquiring an additional 216,250 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FELE has been the topic of several research reports. DA Davidson raised shares of Franklin Electric from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $135.00 in a research report on Monday, November 2nd. Wall Street Zen cut Franklin Electric from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. Zacks Research raised Franklin Electric from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Weiss Ratings lowered Franklin Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, Robert W. Baird set a $130.00 price objective on Franklin Electric in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Franklin Electric Stock Up 1.2%

Franklin Electric stock opened at $98.88 on Thursday. The company has a market cap of $4.37 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82. The company has a fifty day simple moving average of $97.86 and a 200 day simple moving average of $100.10. The company has a current ratio of 2.33, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. Franklin Electric had a net margin of 8.83% and a return on equity of 15.45%. The firm had revenue of $633.62 million for the quarter, compared to analyst estimates of $617.19 million. During the same period in the previous year, the business earned $1.30 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Research analysts anticipate that Franklin Electric Co., Inc. will post 4.77 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.12 annualized dividend and a yield of 1.1%. Franklin Electric’s dividend payout ratio is 25.17%.

Franklin Electric Profile

Franklin Electric is a global manufacturer of systems and components used to move water and fuel. Founded in 1944 and headquartered in Fort Wayne, Indiana, the company serves residential, commercial, agricultural, municipal and industrial markets. Its water-related products include submersible motors and pumps, groundwater and wastewater systems, water treatment equipment, and controls and drives. Franklin Electric also supplies pumping and related equipment for applications such as pressure boosting, irrigation and dewatering.