Franklin Electric Co., Inc. (NASDAQ:FELE) Stock Holdings Trimmed by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 15.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,677 shares of the industrial products company’s stock after selling 2,743 shares during the quarter. Advisors Asset Management Inc.’s holdings in Franklin Electric were worth $1,538,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in Franklin Electric by 40.0% during the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Franklin Electric by 357.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock worth $889,000 after buying an additional 7,213 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the period. MQS Management LLC bought a new position in Franklin Electric during the third quarter valued at about $646,000. Finally, Edgestream Partners L.P. grew its holdings in Franklin Electric by 328.4% during the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock worth $6,206,000 after acquiring an additional 49,391 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is owned by insiders.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $110.40 on Tuesday. 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 $5.04 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The stock has a fifty day moving average of $103.86 and a 200-day moving average of $100.71. Franklin Electric Co., Inc. has a one year low of $87.65 and a one year high of $111.94.

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

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued 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 0.91%. Franklin Electric’s dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

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

Franklin Electric Company 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.