Raymond James Financial Inc. Takes $2.78 Million Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Raymond James Financial Inc. purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 28,550 shares of the industrial products company's stock, valued at approximately $2,782,000. Raymond James Financial Inc. owned approximately 0.06% of Franklin Electric as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. PDT Partners LLC grew its position in Franklin Electric by 241.8% in the third quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company's stock worth $1,261,000 after acquiring an additional 8,510 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Franklin Electric by 19.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company's stock valued at $293,000 after purchasing an additional 451 shares during the last quarter. Citigroup Inc. boosted its holdings in Franklin Electric by 73.1% in the third quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company's stock worth $6,176,000 after purchasing an additional 24,889 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Franklin Electric during the fourth quarter worth $241,000. Finally, JPMorgan Chase & Co. increased its position in Franklin Electric by 26.1% during the third quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company's stock worth $16,174,000 after buying an additional 31,937 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.

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Insider Buying and Selling

In other news, insider Delancey W. Davis sold 961 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now directly owns 7,701 shares of the company's stock, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.72% of the company's stock.

Franklin Electric Stock Up 0.8 %

Shares of NASDAQ:FELE traded up $0.76 on Wednesday, reaching $95.87. The company had a trading volume of 168,821 shares, compared to its average volume of 190,863. The stock has a market capitalization of $4.39 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.11 and a beta of 0.98. The stock 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 quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

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

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.11%. Franklin Electric's dividend payout ratio (DPR) is presently 27.53%.

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.