Fortress Financial Solutions LLC Acquires Shares of 4,001 Franklin Electric Co., Inc. (NASDAQ:FELE)

Fortress Financial Solutions LLC acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,001 shares of the industrial products company's stock, valued at approximately $390,000.

Several other large investors have also made changes to their positions in FELE. Allspring Global Investments Holdings LLC lifted its position in Franklin Electric by 2.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company's stock valued at $212,810,000 after purchasing an additional 40,248 shares during the period. Geode Capital Management LLC grew its position in Franklin Electric by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company's stock worth $105,264,000 after purchasing an additional 9,170 shares during the period. Boston Trust Walden Corp raised its stake in shares of Franklin Electric by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company's stock valued at $69,082,000 after buying an additional 3,847 shares during the last quarter. KBC Group NV lifted its holdings in shares of Franklin Electric by 7.3% in the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock valued at $40,459,000 after buying an additional 28,121 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in shares of Franklin Electric by 1.2% in the fourth quarter. Tributary Capital Management LLC now owns 181,123 shares of the industrial products company's stock worth $17,650,000 after buying an additional 2,212 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Price Performance

Shares of NASDAQ:FELE traded down $0.88 during trading on Friday, reaching $99.98. 311,369 shares of the company's stock traded hands, compared to its average volume of 181,699. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The company has a 50-day simple moving average of $99.54 and a 200-day simple moving average of $101.59. The firm has a market cap of $4.57 billion, a PE ratio of 25.31, a P/E/G ratio of 1.97 and a beta of 1.00.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be issued a $0.265 dividend. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 6th. Franklin Electric's dividend payout ratio (DPR) is presently 26.84%.

Analyst Ratings Changes

Separately, Robert W. Baird dropped 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.

About Franklin Electric

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.