Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.3% in the third quarter, HoldingsChannel reports. The firm owned 197,584 shares of the industrial products company’s stock after selling 11,047 shares during the quarter. Principal Financial Group Inc.’s holdings in Franklin Electric were worth $20,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of FELE. Franklin Resources Inc. increased its stake in shares of Franklin Electric by 9.9% in the third quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company’s stock worth $1,076,000 after acquiring an additional 914 shares during the period. Tidal Investments LLC grew its position in Franklin Electric by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 13,518 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 1,502 shares during the period. Geode Capital Management LLC grew its position in Franklin Electric by 0.9% during 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 purchasing an additional 9,170 shares during the period. Barclays PLC raised its stake in shares of Franklin Electric by 237.3% during the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company’s stock valued at $9,184,000 after buying an additional 61,640 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Franklin Electric by 2.6% in the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock valued at $634,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other 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 completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of NASDAQ FELE opened at $98.90 on Thursday. The company has a market capitalization of $4.52 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. 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’s fifty day moving average price is $104.58 and its 200 day moving average price is $101.66. Franklin Electric Co., Inc. has a 1 year low of $91.45 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) 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 firm had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same period in the previous year, the company earned $1.23 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock 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.