Franklin Electric Co., Inc. (NASDAQ:FELE) Declares Quarterly Dividend of $0.27

Franklin Electric Co., Inc. (NASDAQ:FELE) declared a quarterly dividend on Monday, January 27th,RTT News reports. Shareholders of record on Thursday, February 6th will be given a dividend of 0.265 per share by the industrial products company on Thursday, February 20th. This represents a $1.06 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25.

Franklin Electric has raised its dividend payment by an average of 12.6% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Franklin Electric has a payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Franklin Electric to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.2%.

Franklin Electric Stock Performance

Shares of FELE opened at $99.20 on Wednesday. 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 company has a market capitalization of $4.53 billion, a PE ratio of 25.11, a PEG ratio of 1.93 and a beta of 1.00. Franklin Electric has a 52 week low of $91.67 and a 52 week high of $111.94. The company’s 50 day moving average price is $101.48 and its 200 day moving average price is $101.88.

Franklin Electric (NASDAQ:FELE) last released 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). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the previous year, the company earned $1.23 earnings per share. Franklin Electric’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts expect that Franklin Electric will post 3.81 EPS for the current fiscal year.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.