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

Geode Capital Management LLC lessened its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,001,223 shares of the industrial products company's stock after selling 2,834 shares during the period. Geode Capital Management LLC owned approximately 2.19% of Franklin Electric worth $97,590,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FELE. New Age Alpha Advisors LLC bought a new position in Franklin Electric in the 4th quarter worth $233,000. Norges Bank purchased a new position in Franklin Electric during the 4th quarter valued at approximately $56,968,000. JPMorgan Chase & Co. lifted its position in Franklin Electric by 60.1% during the fourth quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company's stock valued at $24,080,000 after purchasing an additional 92,793 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Franklin Electric in the fourth quarter worth about $216,000. Finally, Vanguard Group Inc. raised its holdings in Franklin Electric by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,769,582 shares of the industrial products company's stock valued at $464,796,000 after buying an additional 45,174 shares during the period. Hedge funds and other institutional investors own 79.98% of the company's stock.

Franklin Electric Trading Up 1.0 %

Franklin Electric stock traded up $0.91 during midday trading on Tuesday, reaching $90.04. The stock had a trading volume of 23,425 shares, compared to its average volume of 198,621. Franklin Electric Co., Inc. has a 52-week low of $82.69 and a 52-week high of $111.94. The company has a fifty day moving average of $97.78 and a 200 day moving average of $100.76. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

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

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. This is an increase from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.18%. Franklin Electric's dividend payout ratio (DPR) is 27.53%.

Insider Buying and Selling

In other news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.72% of the stock is currently owned by insiders.

Franklin Electric Company 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.