Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,929 shares of the industrial products company's stock after selling 2,568 shares during the period. Marks Group Wealth Management Inc owned approximately 0.17% of Franklin Electric worth $7,692,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in FELE. CWM LLC increased its stake in shares of Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company's stock worth $72,000 after purchasing an additional 98 shares in the last quarter. Covestor Ltd increased 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 purchasing an additional 103 shares in the last quarter. Blue Trust Inc. increased its stake 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 worth $29,000 after purchasing an additional 107 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Franklin Electric by 2.6% during 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 in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock worth $75,000 after purchasing an additional 164 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Down 0.9 %

Shares of NASDAQ:FELE traded down $0.88 during midday trading on Friday, hitting $99.98. 311,369 shares of the company's stock traded hands, compared to its average volume of 181,699. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The company has a market cap of $4.57 billion, a PE ratio of 25.31, a P/E/G ratio of 1.97 and a beta of 1.00. The firm's fifty day moving average price is $99.67 and its two-hundred day moving average price is $101.65.

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's payout ratio is currently 26.84%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th.

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.