Franklin Electric Co. (FELE) Holdings Cut by BTIM Corp.

BTIM Corp. reduced its position in shares of Franklin Electric Co. (NASDAQ:FELE) by 24.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 454,185 shares of the industrial products company’s stock after selling 150,654 shares during the period. BTIM Corp.’s holdings in Franklin Electric were worth $23,205,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FELE. Bank of New York Mellon Corp raised its stake in Franklin Electric by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 704,987 shares of the industrial products company’s stock valued at $33,311,000 after purchasing an additional 16,835 shares during the period. BlackRock Inc. raised its stake in Franklin Electric by 4.1% during the 3rd quarter. BlackRock Inc. now owns 6,031,721 shares of the industrial products company’s stock valued at $284,997,000 after purchasing an additional 240,251 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of Franklin Electric by 56.7% in the third quarter. MetLife Investment Advisors LLC now owns 33,076 shares of the industrial products company’s stock worth $1,563,000 after acquiring an additional 11,972 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Franklin Electric by 1.3% in the third quarter. Teachers Advisors LLC now owns 91,249 shares of the industrial products company’s stock worth $4,312,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Franklin Electric by 7.3% in the third quarter. Legal & General Group Plc now owns 92,690 shares of the industrial products company’s stock worth $4,379,000 after acquiring an additional 6,281 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors.

NASDAQ FELE opened at $51.78 on Wednesday. Franklin Electric Co. has a 1-year low of $38.87 and a 1-year high of $55.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 2.27. The firm has a market capitalization of $2.38 billion, a PE ratio of 22.91, a P/E/G ratio of 4.22 and a beta of 1.37.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, February 19th. The industrial products company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $316.66 million for the quarter, compared to the consensus estimate of $309.68 million. Franklin Electric had a net margin of 8.16% and a return on equity of 14.72%. Franklin Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. On average, sell-side analysts predict that Franklin Electric Co. will post 2.41 EPS for the current year.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. BidaskClub downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Boenning Scattergood reaffirmed a “buy” rating and issued a $54.00 price target on shares of Franklin Electric in a research note on Tuesday, February 19th. Finally, ValuEngine raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.00.

In other Franklin Electric news, VP Donald P. Kenney sold 1,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $52.14, for a total transaction of $78,210.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas R. Verhage sold 2,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $55.21, for a total transaction of $110,420.00. The disclosure for this sale can be found here. Insiders have sold 13,090 shares of company stock worth $706,639 over the last three months. Company insiders own 2.88% of the company’s stock.

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About Franklin Electric

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

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