Quantbot Technologies LP Sells 9,625 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Quantbot Technologies LP reduced its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 77.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,796 shares of the industrial products company's stock after selling 9,625 shares during the quarter. Quantbot Technologies LP's holdings in Franklin Electric were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Franklin Electric by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company's stock valued at $105,264,000 after buying an additional 9,170 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock valued at $79,098,000 after buying an additional 143,917 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Franklin Electric by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after purchasing an additional 10,580 shares during the period. KBC Group NV raised its stake in shares of Franklin Electric by 7.3% during the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after purchasing an additional 28,121 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Franklin Electric by 15.9% during the 4th quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company's stock worth $38,208,000 after purchasing an additional 53,825 shares during the period. Hedge funds and other institutional investors own 79.98% of the company's stock.

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Franklin Electric Price Performance

Shares of NASDAQ:FELE traded up $0.76 during midday trading on Wednesday, hitting $95.87. 168,821 shares of the stock were exchanged, compared to its average volume of 190,863. The stock has a market cap of $4.39 billion, a P/E ratio of 24.90, a PEG ratio of 2.11 and a beta of 0.98. The company has a 50 day moving average price of $100.02 and a 200-day moving average price of $101.75. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

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

Franklin Electric Increases Dividend

The business also recently declared 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 represents a $1.06 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. Franklin Electric's payout ratio is 27.53%.

Insider Activity

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the transaction, the insider now directly owns 7,701 shares of the company's stock, valued at $794,281.14. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.72% of the company's stock.

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.