Geode Capital Management LLC Grows Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Geode Capital Management LLC boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,004,057 shares of the industrial products company's stock after purchasing an additional 9,170 shares during the period. Geode Capital Management LLC owned approximately 2.20% of Franklin Electric worth $105,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 98 shares during the period. Covestor Ltd boosted its stake in shares of Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company's stock worth $80,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 107 shares during the period. Marshall Wace LLP increased its stake in shares of Franklin Electric by 1.0% in the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company's stock valued at $1,060,000 after purchasing an additional 109 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in Franklin Electric by 2.6% in the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company's stock worth $634,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction that occurred on 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 in the company, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.72% of the company's stock.

Analysts Set New Price Targets

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

Franklin Electric Price Performance

FELE stock traded down $0.59 during mid-day trading on Thursday, reaching $98.72. The company's stock had a trading volume of 167,540 shares, compared to its average volume of 175,605. The stock has a market cap of $4.51 billion, a PE ratio of 24.99, a P/E/G ratio of 2.35 and a beta of 0.98. The company's 50 day moving average is $105.12 and its two-hundred day moving average is $101.60. Franklin Electric Co., Inc. has a fifty-two week low of $91.45 and a fifty-two week 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 posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million for the quarter, compared to analysts' expectations of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm's revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. Equities research analysts expect that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric's dividend payout ratio is currently 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.