Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 26.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,305 shares of the industrial products company's stock after acquiring an additional 31,937 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of Franklin Electric worth $16,174,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in Franklin Electric by 55.7% in the 3rd 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 in the last quarter. CWM LLC lifted its stake in shares of Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company's stock valued at $72,000 after buying an additional 98 shares during the period. USA Financial Formulas acquired a new stake in Franklin Electric during the third quarter worth approximately $74,000. Signaturefd LLC boosted its position in Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock worth $75,000 after acquiring an additional 164 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Franklin Electric in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Insider Buying and Selling

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares of the company's stock, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.72% of the company's stock.

Analyst Ratings Changes

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

Franklin Electric Trading Down 1.7 %

Shares of FELE traded down $1.62 during mid-day trading on Friday, hitting $93.38. The company had a trading volume of 194,201 shares, compared to its average volume of 146,517. Franklin Electric Co., Inc. has a 1-year low of $91.49 and a 1-year high of $111.94. The business's 50-day simple moving average is $103.36 and its 200-day simple moving average is $101.59. The stock has a market cap of $4.27 billion, a PE ratio of 23.64, a P/E/G ratio of 2.30 and a beta of 1.00. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.10). The company had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 EPS. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric's 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.