Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 59.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,974 shares of the industrial products company's stock after selling 11,455 shares during the quarter. Exchange Traded Concepts LLC's holdings in Franklin Electric were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock valued at $29,000 after buying an additional 107 shares in the last quarter. Trust Co. of Vermont acquired a new position in Franklin Electric during the 4th quarter valued at about $40,000. CWM LLC increased its position in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company's stock valued at $72,000 after buying an additional 98 shares in the last quarter. USA Financial Formulas purchased a new stake in Franklin Electric during the 3rd quarter worth approximately $74,000. Finally, Signaturefd LLC grew its position in Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock worth $75,000 after purchasing an additional 164 shares during the last quarter. Institutional investors own 79.98% of the company's stock.

Insider Activity

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares of the company's stock, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.72% of the company's stock.

Analysts Set New Price Targets

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

Franklin Electric Stock Performance

Franklin Electric stock traded up $1.83 during mid-day trading on Thursday, hitting $100.38. The company had a trading volume of 15,893 shares, compared to its average volume of 169,218. The company's fifty day moving average is $101.48 and its 200-day moving average is $101.88. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.93 and a beta of 1.00. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.10). The firm had revenue of $531.40 million during 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 company's revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. Equities research analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This is a boost 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 1.06%. 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.