Robert W. Baird reiterated their hold rating on shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in a report issued on Wednesday. The firm currently has a $45.00 price objective on the industrial products company’s stock.

FELE has been the topic of a number of other reports. Boenning Scattergood reaffirmed an outperform rating on shares of Franklin Electric Co. in a report on Tuesday, September 5th. BidaskClub cut shares of Franklin Electric Co. from a buy rating to a hold rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised shares of Franklin Electric Co. from a sell rating to a hold rating and set a $45.00 price objective on the stock in a research note on Wednesday, July 26th.

Shares of Franklin Electric Co. (NASDAQ:FELE) traded down 1.63% on Wednesday, reaching $45.15. 147,713 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $41.19 and a 200 day moving average of $40.63. The firm has a market capitalization of $2.10 billion, a P/E ratio of 24.54 and a beta of 1.63. Franklin Electric Co. has a one year low of $34.75 and a one year high of $46.95.

Franklin Electric Co. (NASDAQ:FELE) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $305.35 million for the quarter, compared to analysts’ expectations of $310.13 million. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. On average, equities research analysts predict that Franklin Electric Co. will post $1.92 EPS for the current year.

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In other Franklin Electric Co. news, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total value of $1,766,700.00. Following the transaction, the insider now directly owns 39,392 shares of the company’s stock, valued at approximately $1,772,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.54% of the company’s stock.

Several large investors have recently bought and sold shares of FELE. Bank of New York Mellon Corp grew its stake in shares of Franklin Electric Co. by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 567,727 shares of the industrial products company’s stock worth $24,441,000 after purchasing an additional 20,368 shares during the period. Comerica Bank grew its stake in shares of Franklin Electric Co. by 4.4% during the 1st quarter. Comerica Bank now owns 45,687 shares of the industrial products company’s stock worth $1,976,000 after purchasing an additional 1,933 shares during the period. Karp Capital Management Corp acquired a new position in shares of Franklin Electric Co. during the 1st quarter worth $874,000. State of Tennessee Treasury Department grew its stake in shares of Franklin Electric Co. by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 35,960 shares of the industrial products company’s stock worth $1,548,000 after purchasing an additional 5,427 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Franklin Electric Co. during the 1st quarter worth $228,000. 77.00% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Co. Company Profile

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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