Franklin Electric (NASDAQ:FELE) Stock Price Up 7.4% Following Strong Earnings

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report)'s stock price traded up 7.4% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $108.08 and last traded at $107.35. 47,798 shares traded hands during trading, a decline of 73% from the average session volume of 176,373 shares. The stock had previously closed at $99.98.

The industrial products company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.03. The firm had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.265 dividend. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.02%. Franklin Electric's payout ratio is 27.53%.

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.

Institutional Trading of Franklin Electric

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock worth $29,000 after buying an additional 107 shares during the period. Spire Wealth Management bought a new position in Franklin Electric in the 4th quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in Franklin Electric in the fourth quarter worth $40,000. Public Employees Retirement System of Ohio bought a new stake in shares of Franklin Electric during the fourth quarter worth $52,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 420 shares during the period. Institutional investors own 79.98% of the company's stock.

Franklin Electric Trading Down 1.7 %

The stock has a market capitalization of $4.76 billion, a P/E ratio of 27.08, a PEG ratio of 2.11 and a beta of 1.00. The stock's fifty day moving average price is $99.33 and its 200 day moving average price is $101.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06.

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.