28,550 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 28,550 shares of the industrial products company’s stock, valued at approximately $2,782,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FELE. Geode Capital Management LLC increased its position 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 valued at $105,264,000 after acquiring an additional 9,170 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock valued at $79,098,000 after purchasing an additional 143,917 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Franklin Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company’s stock valued at $49,093,000 after purchasing an additional 10,580 shares during the period. KBC Group NV raised its stake in shares of Franklin Electric by 7.3% in the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock worth $40,459,000 after purchasing an additional 28,121 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Franklin Electric by 15.9% during the fourth quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company’s stock worth $38,208,000 after purchasing an additional 53,825 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $94.60 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The company’s 50 day moving average is $100.31 and its 200 day moving average is $101.73. The company has a market cap of $4.33 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. On average, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.12%. Franklin Electric’s dividend payout ratio is presently 27.53%.

Insider Buying and Selling

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.72% of the stock is owned by corporate insiders.

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.