Franklin Electric Co. (NASDAQ:FELE) VP Donald P. Kenney sold 474 shares of Franklin Electric stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $56.50, for a total transaction of $26,781.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

Franklin Electric stock opened at $54.05 on Friday. The company has a market capitalization of $2.49 billion, a P/E ratio of 28.60 and a beta of 1.07. The firm’s fifty day simple moving average is $51.67 and its 200-day simple moving average is $52.18. The company has a current ratio of 3.16, a quick ratio of 1.22 and a debt-to-equity ratio of 0.14. Franklin Electric Co. has a 1-year low of $41.25 and a 1-year high of $61.49.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The business had revenue of $308.28 million for the quarter, compared to the consensus estimate of $298.26 million. Franklin Electric had a net margin of 7.16% and a return on equity of 11.70%. Franklin Electric’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. On average, equities research analysts predict that Franklin Electric Co. will post 1.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, August 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.15%. Franklin Electric’s dividend payout ratio is currently 29.95%.

A number of brokerages have issued reports on FELE. DA Davidson lowered shares of Franklin Electric from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research note on Thursday, July 2nd. Zacks Investment Research raised shares of Franklin Electric from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Sidoti began coverage on shares of Franklin Electric in a research note on Wednesday, July 1st. They set a “buy” rating for the company. Finally, BidaskClub upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a report on Friday, July 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $51.00.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV raised its holdings in Franklin Electric by 47,000.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 471 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 470 shares during the period. Private Capital Group LLC raised its holdings in Franklin Electric by 57.6% in the 1st quarter. Private Capital Group LLC now owns 928 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 339 shares during the period. FinTrust Capital Advisors LLC raised its holdings in Franklin Electric by 1,240.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,340 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 1,240 shares during the period. Mutual of America Capital Management LLC raised its holdings in Franklin Electric by 23.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,682 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 314 shares during the period. Finally, First Bank & Trust raised its holdings in Franklin Electric by 162.0% in the 1st quarter. First Bank & Trust now owns 2,832 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 1,751 shares during the period. Hedge funds and other institutional investors own 76.54% of the company’s stock.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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