Franklin Electric Co., Inc. (NASDAQ:FELE) Short Interest Down 6.0% in January

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 501,700 shares, a drop of 6.0% from the January 15th total of 534,000 shares. Based on an average daily volume of 179,100 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.3% of the company's stock are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Franklin Electric

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Franklin Electric in the fourth quarter worth about $56,968,000. Allianz Asset Management GmbH increased its stake in shares of Franklin Electric by 21.6% during the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after purchasing an additional 143,917 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Franklin Electric in the 4th quarter worth approximately $134,000. JPMorgan Chase & Co. raised its holdings in shares of Franklin Electric by 60.1% in the 4th quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company's stock worth $24,080,000 after purchasing an additional 92,793 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in Franklin Electric in the fourth quarter valued at approximately $8,046,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Down 1.7 %

Franklin Electric stock traded down $1.76 during midday trading on Friday, hitting $104.24. 233,612 shares of the stock were exchanged, compared to its average volume of 197,053. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. Franklin Electric has a 52-week low of $91.67 and a 52-week high of $111.94. The business's 50-day moving average price is $99.33 and its 200-day moving average price is $101.65.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.03. The firm had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. On average, research analysts expect that Franklin Electric will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.02%. Franklin Electric's dividend payout ratio (DPR) is currently 27.53%.

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.