Franklin Electric Co., Inc. (NASDAQ:FELE) CFO Jeffery L. Taylor Buys 2,000 Shares

Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) CFO Jeffery L. Taylor acquired 2,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were purchased at an average price of $70.36 per share, with a total value of $140,720.00. Following the completion of the purchase, the chief financial officer now owns 12,539 shares in the company, valued at approximately $882,244.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

FELE traded down $0.97 during trading hours on Tuesday, reaching $70.05. The company’s stock had a trading volume of 152,025 shares, compared to its average volume of 191,845. Franklin Electric Co., Inc. has a fifty-two week low of $68.27 and a fifty-two week high of $96.95. The stock has a market cap of $3.24 billion, a PE ratio of 21.59 and a beta of 1.03. The business’s 50-day moving average is $80.05 and its 200-day moving average is $86.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.70 and a quick ratio of 0.62.

Franklin Electric (NASDAQ:FELEGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Franklin Electric had a return on equity of 16.08% and a net margin of 8.75%. The firm had revenue of $451.50 million for the quarter, compared to analysts’ expectations of $424.62 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. Analysts expect that Franklin Electric Co., Inc. will post 3.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 19th. Investors of record on Thursday, May 5th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, May 4th. Franklin Electric’s dividend payout ratio is presently 23.71%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FELE. Allspring Global Investments Holdings LLC acquired a new position in Franklin Electric in the fourth quarter valued at approximately $198,321,000. Norges Bank acquired a new position in Franklin Electric during the fourth quarter worth $40,364,000. BlackRock Inc. lifted its stake in Franklin Electric by 2.4% during the third quarter. BlackRock Inc. now owns 7,688,420 shares of the industrial products company’s stock worth $613,920,000 after purchasing an additional 179,681 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Franklin Electric by 18.2% during the third quarter. Allianz Asset Management GmbH now owns 919,506 shares of the industrial products company’s stock worth $73,422,000 after purchasing an additional 141,851 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Franklin Electric by 41.9% during the second quarter. Morgan Stanley now owns 343,829 shares of the industrial products company’s stock worth $27,720,000 after purchasing an additional 101,548 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

Several equities research analysts have commented on the company. StockNews.com upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird lowered their target price on Franklin Electric from $93.00 to $86.00 in a report on Wednesday, April 27th. Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Seaport Res Ptn upgraded Franklin Electric from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th. Finally, Boenning Scattergood upgraded Franklin Electric from a “neutral” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Wednesday, March 9th.

About Franklin Electric (Get Rating)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.

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