Oppenheimer Asset Management Inc. Purchases 190 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Oppenheimer Asset Management Inc. lifted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,587 shares of the industrial products company’s stock after acquiring an additional 190 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Franklin Electric were worth $2,104,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FELE. Geode Capital Management LLC grew its position in Franklin Electric by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock valued at $105,264,000 after acquiring an additional 9,170 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Franklin Electric by 21.6% during the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock valued at $79,098,000 after purchasing an additional 143,917 shares during the period. KBC Group NV grew its position in Franklin Electric by 7.3% in the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock valued at $40,459,000 after acquiring an additional 28,121 shares during the period. Bank of New York Mellon Corp grew its position in Franklin Electric by 15.9% in the fourth quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company’s stock valued at $38,208,000 after acquiring an additional 53,825 shares during the period. Finally, Principal Financial Group Inc. grew its position in Franklin Electric by 3.9% in the fourth quarter. Principal Financial Group Inc. now owns 205,212 shares of the industrial products company’s stock valued at $19,998,000 after acquiring an additional 7,628 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $102.15 on Monday. The business’s fifty day moving average price is $99.48 and its two-hundred day moving average price is $101.91. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. As a group, analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s payout ratio is currently 27.53%.

Insiders Place Their Bets

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.72% of the company’s stock.

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.