Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 16.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,850 shares of the industrial products company's stock after selling 10,152 shares during the quarter. Jane Street Group LLC owned approximately 0.11% of Franklin Electric worth $5,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 107 shares during the period. CWM LLC grew its holdings in Franklin Electric by 16.7% in the third 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. USA Financial Formulas purchased a new stake in Franklin Electric in the third quarter valued at approximately $74,000. Signaturefd LLC grew its holdings in Franklin Electric by 29.9% in the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 164 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in Franklin Electric during the third quarter valued at approximately $77,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.72% of the company's stock.

Franklin Electric Trading Down 1.0 %

FELE stock traded down $1.10 during midday trading on Tuesday, reaching $103.99. 144,479 shares of the company's stock traded hands, compared to its average volume of 175,452. The company has a market capitalization of $4.75 billion, a P/E ratio of 26.27, a PEG ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a fifty-two week low of $91.45 and a fifty-two week high of $111.94. The business has a 50-day moving average price of $105.23 and a two-hundred day moving average price of $101.59.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to analysts' expectations of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. Franklin Electric's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. Equities research analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. Franklin Electric's dividend payout ratio (DPR) is presently 25.32%.

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.