First Horizon Advisors Inc. Sells 168 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

First Horizon Advisors Inc. decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 29.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 407 shares of the industrial products company’s stock after selling 168 shares during the period. First Horizon Advisors Inc.’s holdings in Franklin Electric were worth $43,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FELE. Blue Trust Inc. lifted its position in shares of 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 last quarter. ORG Partners LLC bought a new position in Franklin Electric during the 2nd quarter worth about $36,000. GAMMA Investing LLC increased its holdings in Franklin Electric by 130.6% during the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock valued at $70,000 after buying an additional 410 shares during the period. CWM LLC raised its stake in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after buying an additional 98 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in Franklin Electric during the third quarter worth $74,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE opened at $109.06 on Monday. The company has a 50 day moving average of $103.86 and a two-hundred day moving average of $100.72. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a twelve month low of $87.65 and a twelve month high of $110.97.

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

Franklin Electric Announces Dividend

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

Insider Buying and Selling

In other 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective 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 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.