Jay J. Walsh Sells 14,090 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $104.57, for a total value of $1,473,391.30. Following the completion of the transaction, the insider now directly owns 16,927 shares in the company, valued at approximately $1,770,056.39. The sale was disclosed in a document filed with the SEC, which is available at this link.

Franklin Electric Stock Up 2.4 %

NASDAQ FELE traded up $2.47 during trading on Friday, reaching $106.22. 172,822 shares of the company’s stock were exchanged, compared to its average volume of 179,388. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $107.89. The firm has a market capitalization of $4.89 billion, a PE ratio of 25.81, a P/E/G ratio of 1.97 and a beta of 0.96. The company has a current ratio of 2.65, a quick ratio of 1.17 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $98.05 and its 200-day simple moving average is $99.31.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The business had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. The company’s revenue was down 4.6% compared to the same quarter last year. Sell-side analysts predict that Franklin Electric Co., Inc. will post 4.27 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.94%. Franklin Electric’s dividend payout ratio is 24.88%.

Wall Street Analysts Forecast Growth

FELE has been the topic of a number of analyst reports. StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. DA Davidson raised their price objective on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st.

Institutional Investors Weigh In On Franklin Electric

Several institutional investors have recently made changes to their positions in FELE. Pacer Advisors Inc. acquired a new stake in shares of Franklin Electric during the 4th quarter valued at about $26,000. Principal Securities Inc. acquired a new stake in shares of Franklin Electric during the 4th quarter valued at about $33,000. GAMMA Investing LLC lifted its holdings in shares of Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after buying an additional 147 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Franklin Electric during the 2nd quarter valued at about $36,000. Finally, Signaturefd LLC lifted its holdings in shares of Franklin Electric by 35.3% during the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $52,000 after buying an additional 141 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Electric

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