Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 40.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,818 shares of the industrial products company's stock after buying an additional 7,092 shares during the period. Van ECK Associates Corp owned approximately 0.05% of Franklin Electric worth $2,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised 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 valued at $29,000 after buying an additional 107 shares during the last quarter. ORG Partners LLC purchased a new position in Franklin Electric during the second quarter valued at approximately $36,000. GAMMA Investing LLC lifted its holdings in Franklin Electric by 130.6% in the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 410 shares during the period. CWM LLC boosted its position in Franklin Electric by 16.7% in 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. Finally, USA Financial Formulas acquired a new stake in shares of Franklin Electric during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the transaction, the insider now owns 9,032 shares of the company's stock, valued at $905,187.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.72% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price 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 Price Performance

Shares of Franklin Electric stock traded up $2.37 on Monday, hitting $110.17. 134,053 shares of the company were exchanged, compared to its average volume of 177,581. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $101.88 and a 200 day moving average price of $100.22. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. Franklin Electric Co., Inc. has a 1-year low of $86.74 and a 1-year high of $110.97.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) 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 return on equity of 15.03% and a net margin of 9.22%. The firm's revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.23 earnings per share. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric's dividend payout ratio (DPR) is presently 25.32%.

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.