Prudential Financial Inc. lowered its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,675 shares of the industrial products company’s stock after selling 8,440 shares during the quarter. Prudential Financial Inc.’s holdings in Franklin Electric were worth $2,816,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FELE. BlackRock Inc. boosted its position in Franklin Electric by 4.1% during the third quarter. BlackRock Inc. now owns 6,031,721 shares of the industrial products company’s stock worth $284,997,000 after purchasing an additional 240,251 shares during the period. Morgan Stanley boosted its position in Franklin Electric by 34.9% during the third quarter. Morgan Stanley now owns 408,447 shares of the industrial products company’s stock worth $19,299,000 after purchasing an additional 105,636 shares during the period. Vanguard Group Inc boosted its position in Franklin Electric by 2.5% during the third quarter. Vanguard Group Inc now owns 4,313,834 shares of the industrial products company’s stock worth $203,829,000 after purchasing an additional 104,385 shares during the period. Vanguard Group Inc. boosted its position in Franklin Electric by 2.5% during the third quarter. Vanguard Group Inc. now owns 4,313,834 shares of the industrial products company’s stock worth $203,829,000 after purchasing an additional 104,385 shares during the period. Finally, Royce & Associates LP boosted its position in Franklin Electric by 7.8% during the third quarter. Royce & Associates LP now owns 1,379,207 shares of the industrial products company’s stock worth $65,168,000 after purchasing an additional 99,609 shares during the period. 76.69% of the stock is owned by hedge funds and other institutional investors.

FELE opened at $50.97 on Friday. Franklin Electric Co. has a 1-year low of $38.87 and a 1-year high of $55.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.27 and a quick ratio of 1.04. The company has a market capitalization of $2.39 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.52 and a beta of 1.38.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 19th. The industrial products company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Franklin Electric had a return on equity of 14.72% and a net margin of 8.16%. The company had revenue of $316.66 million during the quarter, compared to analysts’ expectations of $309.68 million. During the same period in the prior year, the business earned $0.42 earnings per share. Franklin Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Franklin Electric Co. will post 2.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 1.14%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, January 31st. Franklin Electric’s dividend payout ratio is currently 25.66%.

Several research firms have recently weighed in on FELE. BidaskClub raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Boenning Scattergood reissued a “buy” rating and issued a $54.00 price objective on shares of Franklin Electric in a research report on Tuesday, February 19th. ValuEngine raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research raised Franklin Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $52.00.

In related news, insider Delancey W. Davis sold 2,885 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.65, for a total value of $151,895.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald P. Kenney sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $52.14, for a total value of $78,210.00. The disclosure for this sale can be found here. Insiders sold 13,090 shares of company stock valued at $706,639 over the last 90 days. 2.52% of the stock is currently owned by corporate insiders.

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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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