Boenning Scattergood reaffirmed their outperform rating on shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in a research report released on Wednesday morning. They currently have a $52.00 target price on the industrial products company’s stock, up from their prior target price of $44.00. Boenning Scattergood also issued estimates for Franklin Electric Co.’s Q3 2017 earnings at $0.49 EPS, Q4 2017 earnings at $0.49 EPS, FY2017 earnings at $1.89 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $2.10 EPS.

Several other research firms also recently commented on FELE. BidaskClub upgraded Franklin Electric Co. from a hold rating to a buy rating in a research report on Friday, June 30th. Zacks Investment Research upgraded Franklin Electric Co. from a hold rating to a buy rating and set a $49.00 target price for the company in a research report on Tuesday, April 25th.

Shares of Franklin Electric Co. (FELE) opened at 40.05 on Wednesday. The company has a market capitalization of $1.87 billion, a PE ratio of 21.72 and a beta of 1.62. Franklin Electric Co. has a one year low of $34.75 and a one year high of $46.50. The firm’s 50-day moving average price is $41.16 and its 200 day moving average price is $40.70.

Franklin Electric Co. (NASDAQ:FELE) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The firm had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Analysts anticipate that Franklin Electric Co. will post $1.89 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a $0.108 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.43 annualized dividend and a yield of 1.08%. Franklin Electric Co.’s dividend payout ratio is presently 23.37%.

In other Franklin Electric Co. news, insider Robert J. Stone sold 39,260 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the completion of the transaction, the insider now directly owns 39,392 shares in the company, valued at $1,772,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 4,071 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $34.45, for a total value of $140,245.95. The disclosure for this sale can be found here. Insiders sold 52,207 shares of company stock valued at $2,262,378 over the last quarter. Corporate insiders own 2.54% of the company’s stock.

Several institutional investors have recently modified their holdings of FELE. BlackRock Inc. increased its position in shares of Franklin Electric Co. by 26,341.4% in the first quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock worth $224,097,000 after buying an additional 5,185,831 shares during the period. Vanguard Group Inc. increased its position in shares of Franklin Electric Co. by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,855,608 shares of the industrial products company’s stock worth $165,984,000 after buying an additional 247,087 shares during the period. Wells Fargo & Company MN increased its position in shares of Franklin Electric Co. by 2.8% in the first quarter. Wells Fargo & Company MN now owns 1,623,924 shares of the industrial products company’s stock worth $69,910,000 after buying an additional 43,919 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Franklin Electric Co. by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,575,820 shares of the industrial products company’s stock worth $67,838,000 after buying an additional 18,455 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Franklin Electric Co. by 13.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,825 shares of the industrial products company’s stock worth $52,529,000 after buying an additional 147,050 shares during the period. Institutional investors own 78.74% of the company’s stock.

About Franklin Electric Co.

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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