Swiss National Bank Sells 600 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Swiss National Bank trimmed its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,500 shares of the industrial products company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Franklin Electric were worth $8,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FELE. O Shaughnessy Asset Management LLC increased its position in Franklin Electric by 10.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,037 shares of the industrial products company’s stock valued at $538,000 after buying an additional 482 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Franklin Electric by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,405 shares of the industrial products company’s stock valued at $2,607,000 after buying an additional 1,727 shares in the last quarter. Tidal Investments LLC increased its position in Franklin Electric by 21.0% in the 1st quarter. Tidal Investments LLC now owns 4,926 shares of the industrial products company’s stock valued at $526,000 after buying an additional 856 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Franklin Electric by 1.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,090 shares of the industrial products company’s stock valued at $10,697,000 after buying an additional 1,450 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Franklin Electric by 130.6% in the 2nd 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 in the last quarter. 79.98% of the stock is owned by institutional investors.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction that occurred on 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 owns 9,032 shares in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price objective on 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 Stock Performance

Shares of 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 stock has a 50 day moving average price of $103.86 and a two-hundred day moving average price of $100.71. The firm has a market capitalization of $5.04 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.39 and a beta of 0.96. Franklin Electric Co., Inc. has a 52 week low of $87.65 and a 52 week high of $111.94.

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

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.25 dividend. 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 payout ratio is presently 25.32%.

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.