Franklin Electric Co. (FELE) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 24.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,166 shares of the industrial products company’s stock after purchasing an additional 4,498 shares during the quarter. JPMorgan Chase & Co.’s holdings in Franklin Electric were worth $1,045,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in Franklin Electric by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares in the last quarter. Advisor Group Inc. increased its stake in Franklin Electric by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 116 shares in the last quarter. SG Americas Securities LLC acquired a new position in Franklin Electric during the 3rd quarter valued at approximately $131,000. Victory Capital Management Inc. increased its stake in Franklin Electric by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 512 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Franklin Electric by 4.9% during the 2nd quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.

FELE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, September 27th. Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of Franklin Electric in a research note on Wednesday, October 4th. Boenning Scattergood restated a “buy” rating on shares of Franklin Electric in a research note on Tuesday, October 24th. Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric in a research note on Wednesday, October 25th. Finally, BidaskClub lowered shares of Franklin Electric from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.33.

Shares of Franklin Electric Co. (NASDAQ:FELE) opened at $45.55 on Friday. The company has a market cap of $2,130.00, a price-to-earnings ratio of 24.23 and a beta of 1.62. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. Franklin Electric Co. has a twelve month low of $36.00 and a twelve month high of $47.20.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $311.11 million for the quarter, compared to the consensus estimate of $317.54 million. Franklin Electric had a net margin of 8.13% and a return on equity of 13.09%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. sell-side analysts predict that Franklin Electric Co. will post 1.89 earnings per share for the current fiscal year.

In other news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $45.00, for a total value of $213,930.00. Following the sale, the vice president now directly owns 19,129 shares of the company’s stock, valued at approximately $860,805. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.54% of the stock is owned by corporate insiders.

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About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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