Citigroup Inc. Has $6.18 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Citigroup Inc. grew its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 73.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,923 shares of the industrial products company's stock after purchasing an additional 24,889 shares during the quarter. Citigroup Inc. owned approximately 0.13% of Franklin Electric worth $6,176,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Franklin Electric by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,405 shares of the industrial products company's stock valued at $2,607,000 after purchasing an additional 1,727 shares during the last quarter. Tidal Investments LLC raised its position in shares of Franklin Electric by 21.0% in the 1st quarter. Tidal Investments LLC now owns 4,926 shares of the industrial products company's stock valued at $526,000 after acquiring an additional 856 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Franklin Electric by 1.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,090 shares of the industrial products company's stock worth $10,697,000 after acquiring an additional 1,450 shares during the last quarter. GAMMA Investing LLC boosted its stake in Franklin Electric by 130.6% during the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company's stock worth $70,000 after acquiring an additional 410 shares during the last quarter. Finally, Simplicity Wealth LLC grew its holdings in Franklin Electric by 44.4% during the second quarter. Simplicity Wealth LLC now owns 7,560 shares of the industrial products company's stock valued at $728,000 after purchasing an additional 2,326 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price target on shares of Franklin Electric from $107.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th.

Insider Activity at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.72% of the stock is owned by insiders.

Franklin Electric Stock Up 0.1 %

NASDAQ FELE traded up $0.06 on Monday, reaching $108.36. The company had a trading volume of 194,314 shares, compared to its average volume of 176,802. The company's fifty day moving average is $104.67 and its 200-day moving average is $100.99. Franklin Electric Co., Inc. has a 1-year low of $89.89 and a 1-year high of $111.94. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

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

Franklin Electric Dividend Announcement

The firm also recently announced 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 payout ratio is 25.32%.

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.