Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 60.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,571 shares of the industrial products company’s stock after selling 3,948 shares during the quarter. Bridgewater Associates LP’s holdings in Franklin Electric were worth $269,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FELE. CWM LLC lifted its holdings in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 98 shares during the period. Covestor Ltd boosted its holdings in Franklin Electric by 15.6% during the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after buying an additional 103 shares in the last quarter. Blue Trust Inc. grew 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 valued at $29,000 after buying an additional 107 shares during the period. Marshall Wace LLP increased its holdings in Franklin Electric by 1.0% in the second quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock valued at $1,060,000 after buying an additional 109 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Franklin Electric by 29.9% in 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 period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Franklin Electric stock opened at $107.60 on Wednesday. The stock has a market capitalization of $4.92 billion, a P/E ratio of 27.24, a P/E/G ratio of 2.37 and a beta of 0.98. The company’s fifty day moving average price is $104.77 and its 200 day moving average price is $101.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. Franklin Electric Co., Inc. has a 1 year low of $89.89 and a 1 year high of $111.94.

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 analysts’ consensus estimates of $1.27 by ($0.10). The company had revenue of $531.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target on 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.