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.
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.
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