Connor Clark & Lunn Investment Management Ltd. Has $3.22 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 33.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,745 shares of the industrial products company's stock after selling 15,642 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Franklin Electric worth $3,223,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its position in shares of Franklin Electric by 16.7% during the 3rd 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 last quarter. Covestor Ltd grew its stake in shares of Franklin Electric by 15.6% in the third quarter. Covestor Ltd now owns 765 shares of the industrial products company's stock valued at $80,000 after buying an additional 103 shares in the last quarter. Blue Trust Inc. increased its holdings in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock worth $29,000 after buying an additional 107 shares during the last quarter. Marshall Wace LLP raised its position in Franklin Electric by 1.0% during the second quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company's stock worth $1,060,000 after acquiring an additional 109 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Franklin Electric by 29.9% in the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock valued at $75,000 after acquiring an additional 164 shares during the last quarter. Institutional investors own 79.98% of the company's stock.

Analyst Ratings Changes

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

Franklin Electric Stock Performance

FELE traded up $1.34 during trading hours on Monday, reaching $110.40. The company's stock had a trading volume of 307,083 shares, compared to its average volume of 176,911. The company's 50-day moving average is $103.86 and its 200-day moving average is $100.71. Franklin Electric Co., Inc. has a 52 week low of $87.65 and a 52 week high of $111.94. The firm has a market cap of $5.04 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.39 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 earnings results 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 company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. Franklin Electric's dividend payout ratio (DPR) is currently 25.32%.

Insider Buying and Selling

In other news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is currently owned by insiders.

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.