Franklin Electric (FELE) Insider Delancey W. Davis Sells 8,576 Shares

Franklin Electric (NASDAQ:FELE) insider Delancey W. Davis sold 8,576 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $42.16, for a total transaction of $361,564.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of Franklin Electric stock traded down $0.85 during trading on Friday, hitting $41.05. 93,274 shares of the stock were exchanged, compared to its average volume of 131,560. The firm has a market capitalization of $1,949.60, a P/E ratio of 21.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.40. Franklin Electric has a 12 month low of $36.00 and a 12 month high of $47.20.

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Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). The firm had revenue of $288.20 million for the quarter, compared to the consensus estimate of $312.73 million. Franklin Electric had a return on equity of 12.97% and a net margin of 6.95%. The firm’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. sell-side analysts forecast that Franklin Electric will post 2.23 earnings per share for the current year.

A number of analysts have weighed in on FELE shares. BidaskClub cut shares of Franklin Electric from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, January 16th. Gabelli reissued a “hold” rating on shares of Franklin Electric in a report on Wednesday, February 21st. Seaport Global Securities reissued a “hold” rating and set a $41.00 target price on shares of Franklin Electric in a report on Friday, February 23rd. Finally, Boenning Scattergood restated a “buy” rating and set a $54.00 price target on shares of Franklin Electric in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Franklin Electric has an average rating of “Hold” and an average target price of $46.75.

Several institutional investors have recently added to or reduced their stakes in FELE. Public Employees Retirement System of Ohio grew its position in Franklin Electric by 12.9% in 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 buying an additional 281 shares in the last quarter. SG Americas Securities LLC bought a new position in Franklin Electric in the 3rd quarter valued at about $131,000. Xact Kapitalforvaltning AB bought a new position in Franklin Electric in the 4th quarter valued at about $208,000. Meadow Creek Investment Management LLC grew its position in Franklin Electric by 29.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock valued at $243,000 after buying an additional 1,204 shares in the last quarter. Finally, Advisor Group Inc. grew its position in Franklin Electric by 51.7% in the 4th quarter. Advisor Group Inc. now owns 5,439 shares of the industrial products company’s stock valued at $250,000 after buying an additional 1,854 shares in the last quarter. Institutional investors and hedge funds own 77.87% of the company’s stock.

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Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

Insider Buying and Selling by Quarter for Franklin Electric (NASDAQ:FELE)

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