Oppenheimer Asset Management Inc. lowered its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,219 shares of the industrial products company’s stock after selling 978 shares during the period. Oppenheimer Asset Management Inc. owned about 0.07% of Franklin Electric worth $1,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FELE. Stifel Financial Corp boosted its holdings in Franklin Electric by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 9,260 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 191 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Franklin Electric by 2.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 11,770 shares of the industrial products company’s stock valued at $675,000 after purchasing an additional 230 shares during the last quarter. Advisory Alpha LLC lifted its holdings in shares of Franklin Electric by 50.0% in the 4th quarter. Advisory Alpha LLC now owns 900 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 300 shares during the last quarter. Private Capital Group LLC lifted its holdings in shares of 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 last quarter. Finally, Mason Street Advisors LLC lifted its holdings in shares of Franklin Electric by 2.6% in the 4th quarter. Mason Street Advisors LLC now owns 13,403 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 344 shares during the last quarter. 79.14% of the stock is owned by institutional investors.

Franklin Electric stock opened at $48.20 on Friday. The firm has a market cap of $2.23 billion, a PE ratio of 22.95 and a beta of 1.10. Franklin Electric Co. has a 52-week low of $41.25 and a 52-week high of $61.49. The company has a quick ratio of 1.22, a current ratio of 2.84 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $48.19 and its two-hundred day moving average is $53.48.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Franklin Electric had a net margin of 7.52% and a return on equity of 12.73%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $281.90 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Franklin Electric Co. will post 1.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, May 6th. Franklin Electric’s dividend payout ratio is presently 29.95%.

Several brokerages have recently commented on FELE. Zacks Investment Research upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. BidaskClub lowered shares of Franklin Electric from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Finally, DA Davidson upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $60.00 in a report on Monday, March 9th.

In other Franklin Electric news, insider Delancey W. Davis sold 3,469 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $55.00, for a total value of $190,795.00. Following the sale, the insider now directly owns 21,256 shares of the company’s stock, valued at approximately $1,169,080. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Delancey W. Davis sold 10,546 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $57.69, for a total transaction of $608,398.74. Following the completion of the sale, the insider now directly owns 21,023 shares in the company, valued at $1,212,816.87. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.

Franklin Electric Profile

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

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