Citadel Advisors LLC Grows Position in Franklin Electric Co. (FELE)

Citadel Advisors LLC increased its position in shares of Franklin Electric Co. (NASDAQ:FELE) by 105.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,983 shares of the industrial products company’s stock after purchasing an additional 29,191 shares during the quarter. Citadel Advisors LLC owned 0.12% of Franklin Electric worth $2,555,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FELE. Public Employees Retirement System of Ohio lifted its holdings in shares of Franklin Electric by 12.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 281 shares during the period. Advisor Group Inc. lifted its holdings in shares of Franklin Electric by 3.9% during the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 116 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Franklin Electric during the third quarter worth about $131,000. Victory Capital Management Inc. lifted its holdings in shares of Franklin Electric by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 512 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Franklin Electric by 4.9% during the second quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 298 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on FELE. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. Robert W. Baird lifted their price target on Franklin Electric from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Boenning Scattergood reiterated a “buy” rating on shares of Franklin Electric in a research report on Tuesday, October 24th. Finally, BidaskClub cut Franklin Electric from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.33.

In related news, VP Donald P. Kenney sold 4,754 shares of Franklin Electric stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $45.00, for a total transaction of $213,930.00. Following the completion of the transaction, the vice president now directly owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.54% of the stock is currently owned by company insiders.

Franklin Electric Co. (NASDAQ FELE) opened at $45.05 on Monday. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2,099.19, a P/E ratio of 24.75 and a beta of 1.62. Franklin Electric Co. has a 12-month low of $36.00 and a 12-month high of $47.20.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were given a dividend of $0.1075 per share. This represents a $0.43 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, November 1st. Franklin Electric’s dividend payout ratio is currently 23.12%.

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Franklin Electric Company Profile

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.

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

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