Great Lakes Advisors LLC lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 55.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,146 shares of the industrial products company's stock after selling 2,666 shares during the period. Great Lakes Advisors LLC's holdings in Franklin Electric were worth $209,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FELE. BHK Investment Advisors LLC raised its stake in Franklin Electric by 2.5% during the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company's stock worth $501,000 after acquiring an additional 125 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Franklin Electric by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 145 shares during the period. MML Investors Services LLC lifted its stake in shares of Franklin Electric by 2.6% in the third quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company's stock valued at $634,000 after purchasing an additional 156 shares during the period. Inspire Investing LLC raised its position in Franklin Electric by 4.1% during the fourth quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company's stock worth $409,000 after acquiring an additional 164 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Franklin Electric by 14.5% during the fourth quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company's stock worth $136,000 after acquiring an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.
Franklin Electric Trading Down 1.6 %
Shares of NASDAQ:FELE traded down $1.56 during trading on Thursday, reaching $98.01. The stock had a trading volume of 260,963 shares, compared to its average volume of 166,479. The business has a fifty day moving average price of $100.26 and a 200-day moving average price of $101.82. 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 cap of $4.48 billion, a P/E ratio of 25.46, a PEG ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The firm had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.
Franklin Electric Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.08%. Franklin Electric's dividend payout ratio is currently 27.53%.
Insider Activity at Franklin Electric
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now directly owns 7,701 shares of the company's stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is currently owned by corporate insiders.
Franklin Electric Company Profile
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Free Report)
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.
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