Robert W. Baird Cuts Franklin Electric (NASDAQ:FELE) Price Target to $105.00

Franklin Electric (NASDAQ:FELE - Get Free Report) had its price target reduced by Robert W. Baird from $107.00 to $105.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's target price suggests a potential upside of 7.84% from the stock's previous close.

Franklin Electric Trading Up 1.3 %

Shares of FELE stock traded up $1.28 during trading hours on Wednesday, hitting $97.37. 37,036 shares of the company were exchanged, compared to its average volume of 174,080. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. Franklin Electric has a fifty-two week low of $84.32 and a fifty-two week high of $108.39. The company has a 50 day simple moving average of $101.92 and a two-hundred day simple moving average of $100.19. The firm has a market cap of $4.49 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.02 and a beta of 0.95.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.13). The company had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. Equities analysts anticipate that Franklin Electric will post 4.22 EPS for the current year.

Institutional Trading of Franklin Electric

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Franklin Electric by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company's stock valued at $507,489,000 after buying an additional 30,408 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Franklin Electric by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company's stock worth $212,810,000 after purchasing an additional 40,248 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Franklin Electric by 2.6% in the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company's stock worth $150,560,000 after purchasing an additional 39,478 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company's stock worth $69,082,000 after purchasing an additional 3,847 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Franklin Electric by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company's stock valued at $34,833,000 after purchasing an additional 21,890 shares in the last quarter. Institutional investors own 79.98% of the company's stock.

About Franklin Electric

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.