Principal Financial Group Inc. Has $30.71 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Principal Financial Group Inc. decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,813 shares of the industrial products company’s stock after selling 18,587 shares during the quarter. Principal Financial Group Inc. owned 0.70% of Franklin Electric worth $30,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of FELE. Allspring Global Investments Holdings LLC bought a new stake in shares of Franklin Electric in the fourth quarter valued at about $198,321,000. BlackRock Inc. raised its position in Franklin Electric by 2.4% in the 3rd quarter. BlackRock Inc. now owns 7,688,420 shares of the industrial products company’s stock valued at $613,920,000 after buying an additional 179,681 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Franklin Electric by 18.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 919,506 shares of the industrial products company’s stock valued at $73,422,000 after acquiring an additional 141,851 shares in the last quarter. Morgan Stanley boosted its position in Franklin Electric by 41.9% during the 2nd quarter. Morgan Stanley now owns 343,829 shares of the industrial products company’s stock worth $27,720,000 after acquiring an additional 101,548 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Franklin Electric by 62.4% during the 3rd quarter. KBC Group NV now owns 230,189 shares of the industrial products company’s stock worth $18,381,000 after acquiring an additional 88,490 shares in the last quarter. Institutional investors own 77.59% of the company’s stock.

Shares of NASDAQ:FELE opened at $71.36 on Friday. Franklin Electric Co., Inc. has a 52-week low of $68.27 and a 52-week high of $96.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.62 and a current ratio of 1.70. The company has a market capitalization of $3.30 billion, a P/E ratio of 21.69 and a beta of 1.03. The company has a 50-day simple moving average of $79.02 and a 200 day simple moving average of $85.74.

Franklin Electric (NASDAQ:FELEGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $451.50 million during the quarter, compared to analysts’ expectations of $424.62 million. Franklin Electric had a return on equity of 16.08% and a net margin of 8.75%. The business’s revenue was up 35.5% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. As a group, equities analysts forecast that Franklin Electric Co., Inc. will post 3.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, May 4th. This represents a $0.78 dividend on an annualized basis and a yield of 1.09%. Franklin Electric’s dividend payout ratio (DPR) is 23.71%.

In other news, CFO Jeffery L. Taylor bought 2,000 shares of the stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $70.36 per share, for a total transaction of $140,720.00. Following the completion of the purchase, the chief financial officer now owns 12,539 shares in the company, valued at $882,244.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Delancey W. Davis sold 3,075 shares of the business’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $85.30, for a total value of $262,297.50. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

Several brokerages recently commented on FELE. Seaport Res Ptn upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th. Boenning Scattergood upgraded Franklin Electric from a “neutral” rating to an “outperform” rating and set a $95.00 price objective for the company in a report on Wednesday, March 9th. StockNews.com upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Zacks Investment Research downgraded Franklin Electric from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Finally, Robert W. Baird dropped their price objective on Franklin Electric from $93.00 to $86.00 in a research note on Wednesday, April 27th.

About Franklin Electric (Get Rating)

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

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

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