Charles Schwab Investment Management Inc. Sells 5,864 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,195 shares of the industrial products company's stock after selling 5,864 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.08% of Franklin Electric worth $51,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock worth $29,000 after purchasing an additional 107 shares in the last quarter. ORG Partners LLC bought a new position in Franklin Electric during the second quarter worth $36,000. CWM LLC grew its holdings in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company's stock worth $72,000 after purchasing an additional 98 shares during the period. USA Financial Formulas bought a new position in shares of Franklin Electric during the 3rd quarter worth about $74,000. Finally, Signaturefd LLC increased its position in Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock valued at $75,000 after buying an additional 164 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares of the company's stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.72% of the stock is currently owned by insiders.

Franklin Electric Stock Up 1.1 %

FELE stock traded up $1.13 during mid-day trading on Friday, reaching $108.30. 197,174 shares of the company traded hands, compared to its average volume of 184,130. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The firm's 50 day moving average price is $104.56 and its 200 day moving average price is $100.94. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.37 and a beta of 0.96. Franklin Electric Co., Inc. has a fifty-two week low of $87.95 and a fifty-two week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. During the same quarter last year, the company posted $1.23 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric's dividend payout ratio (DPR) is presently 25.32%.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price objective on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th.

Franklin Electric 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.