Franklin Electric Co. (FELE) Insider Sells $361,564.16 in Stock

Franklin Electric Co. (NASDAQ:FELE) insider Delancey W. Davis sold 8,576 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $42.16, for a total transaction of $361,564.16. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of Franklin Electric stock opened at $42.80 on Monday. Franklin Electric Co. has a 1-year low of $36.00 and a 1-year high of $47.20. The company has a current ratio of 2.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1,995.76, a PE ratio of 23.01 and a beta of 1.60.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its holdings in 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 buying an additional 281 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Franklin Electric during the third quarter worth about $131,000. Xact Kapitalforvaltning AB purchased a new stake in Franklin Electric during the fourth quarter worth about $208,000. Meadow Creek Investment Management LLC increased its holdings in Franklin Electric by 29.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock worth $243,000 after buying an additional 1,204 shares during the last quarter. Finally, Advisor Group Inc. increased its holdings in Franklin Electric by 51.7% during the fourth quarter. Advisor Group Inc. now owns 5,439 shares of the industrial products company’s stock worth $250,000 after buying an additional 1,854 shares during the last quarter. Institutional investors and hedge funds own 77.87% of the company’s stock.

FELE has been the topic of a number of recent analyst reports. BidaskClub raised shares of Franklin Electric from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, February 21st. Seaport Global Securities reissued a “hold” rating and set a $41.00 price target on shares of Franklin Electric in a research report on Friday, February 23rd. Robert W. Baird reissued a “hold” rating and set a $47.00 price target on shares of Franklin Electric in a research report on Friday, February 23rd. Finally, Boenning Scattergood reissued 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 assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $46.75.

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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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