PDT Partners LLC Acquires 8,510 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

PDT Partners LLC lifted its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 241.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,029 shares of the industrial products company’s stock after acquiring an additional 8,510 shares during the quarter. PDT Partners LLC’s holdings in Franklin Electric were worth $1,261,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares during the period. ORG Partners LLC bought a new stake in shares of Franklin Electric during the 2nd quarter worth about $36,000. CWM LLC grew its stake in Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares during the last quarter. USA Financial Formulas bought a new position in Franklin Electric in the 3rd quarter valued at about $74,000. Finally, Signaturefd LLC lifted its position in Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 164 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th.

Franklin Electric Price Performance

NASDAQ:FELE opened at $108.30 on Monday. Franklin Electric Co., Inc. has a 52 week low of $87.95 and a 52 week high of $111.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The firm’s 50-day simple moving average is $104.56 and its 200 day simple moving average is $100.94. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.37 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The business had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. Franklin Electric’s payout ratio is 25.32%.

Franklin Electric Profile

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.