Edgestream Partners L.P. Sells 40,405 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Edgestream Partners L.P. decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 62.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,026 shares of the industrial products company's stock after selling 40,405 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of Franklin Electric worth $2,518,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Franklin Electric by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,405 shares of the industrial products company's stock worth $2,607,000 after acquiring an additional 1,727 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Franklin Electric by 21.0% during the first quarter. Tidal Investments LLC now owns 4,926 shares of the industrial products company's stock worth $526,000 after purchasing an additional 856 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Franklin Electric by 130.6% in the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company's stock valued at $70,000 after buying an additional 410 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of Franklin Electric by 44.4% in the second quarter. Simplicity Wealth LLC now owns 7,560 shares of the industrial products company's stock valued at $728,000 after buying an additional 2,326 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Franklin Electric by 357.6% in the second quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company's stock valued at $889,000 after buying an additional 7,213 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction 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 sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.72% of the stock is owned by insiders.

Franklin Electric Trading Down 0.7 %

Franklin Electric stock traded down $0.76 during mid-day trading on Tuesday, hitting $107.60. The stock had a trading volume of 170,939 shares, compared to its average volume of 176,777. The stock has a 50-day simple moving average of $104.77 and a two-hundred day simple moving average of $101.05. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.92 billion, a PE ratio of 27.24, a P/E/G ratio of 2.37 and a beta of 0.98. Franklin Electric Co., Inc. has a 12 month low of $89.89 and a 12 month high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 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 business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. Franklin Electric's dividend payout ratio is currently 25.32%.

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.