Dimensional Fund Advisors LP increased its position in shares of Franklin Electric Co. (NASDAQ:FELE) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,629,982 shares of the industrial products company’s stock after buying an additional 35,564 shares during the quarter. Dimensional Fund Advisors LP owned about 3.50% of Franklin Electric worth $73,105,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Channing Capital Management LLC purchased a new position in shares of Franklin Electric in the 3rd quarter valued at approximately $30,888,000. First Merchants Corp purchased a new position in shares of Franklin Electric in the 3rd quarter valued at approximately $21,739,000. Impax Asset Management LTD grew its stake in shares of Franklin Electric by 18.7% in the 3rd quarter. Impax Asset Management LTD now owns 1,816,445 shares of the industrial products company’s stock valued at $81,468,000 after purchasing an additional 285,940 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Franklin Electric by 8.3% in the 2nd quarter. Earnest Partners LLC now owns 2,248,817 shares of the industrial products company’s stock valued at $93,101,000 after purchasing an additional 172,872 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Franklin Electric by 21.3% in the 2nd quarter. New York State Common Retirement Fund now owns 716,133 shares of the industrial products company’s stock valued at $29,648,000 after purchasing an additional 125,510 shares during the last quarter. Hedge funds and other institutional investors own 76.94% of the company’s stock.
Shares of Franklin Electric Co. (NASDAQ:FELE) opened at $45.10 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2,094.52, a P/E ratio of 24.25 and a beta of 1.62. Franklin Electric Co. has a 1-year low of $36.00 and a 1-year high of $47.20.
Several research analysts have weighed in on the company. Robert W. Baird reiterated a “hold” rating and issued a $45.00 target price on shares of Franklin Electric in a research note on Wednesday, October 4th. Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a research note on Wednesday, October 25th. BidaskClub downgraded Franklin Electric from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Franklin Electric in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Franklin Electric presently has an average rating of “Hold” and a consensus target price of $49.33.
In other news, VP Donald P. Kenney sold 4,754 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of 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 link. 2.54% of the stock is owned by company 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.
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