GAMMA Investing LLC Acquires 177 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

GAMMA Investing LLC raised its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 14.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,398 shares of the industrial products company’s stock after buying an additional 177 shares during the quarter. GAMMA Investing LLC’s holdings in Franklin Electric were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in Franklin Electric by 2.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after buying an additional 40,248 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Franklin Electric by 2.6% in the 2nd quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock worth $150,560,000 after acquiring an additional 39,478 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Franklin Electric by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock worth $105,264,000 after acquiring an additional 9,170 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after purchasing an additional 3,847 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Franklin Electric by 19.6% during the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after purchasing an additional 63,436 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price objective 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.

Franklin Electric Stock Up 0.1 %

Shares of NASDAQ:FELE opened at $95.00 on Friday. The company has a market capitalization of $4.34 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98. Franklin Electric Co., Inc. has a 1 year low of $91.45 and a 1 year high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The business has a fifty day moving average price of $103.45 and a two-hundred day moving average price of $101.58.

Franklin Electric (NASDAQ:FELE) last posted its quarterly 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). The company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. Franklin Electric’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. Analysts forecast that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Insider Activity 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 stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.

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.