Arrowstreet Capital Limited Partnership Sells 4,978 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Arrowstreet Capital Limited Partnership decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,265 shares of the industrial products company's stock after selling 4,978 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Franklin Electric were worth $416,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FELE. Spire Wealth Management bought a new position in Franklin Electric during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in shares of Franklin Electric during the 4th quarter valued at $40,000. Blue Trust Inc. raised its holdings in shares of Franklin Electric by 66.2% during the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 198 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Franklin Electric by 189.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 420 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in Franklin Electric by 150.2% in the fourth quarter. ORG Partners LLC now owns 833 shares of the industrial products company's stock worth $81,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Stock Down 0.7 %

NASDAQ FELE traded down $0.58 during trading on Friday, hitting $86.61. 257,427 shares of the company traded hands, compared to its average volume of 200,214. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.97 billion, a P/E ratio of 22.50, a PEG ratio of 2.11 and a beta of 1.02. The business has a fifty day simple moving average of $96.69 and a 200 day simple moving average of $100.34. Franklin Electric Co., Inc. has a 12 month low of $82.69 and a 12 month high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.22%. Franklin Electric's payout ratio is presently 27.53%.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company's stock.

Franklin Electric Company Profile

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