Wellington Management Group LLP Has $3.58 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Wellington Management Group LLP reduced its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,773 shares of the industrial products company's stock after selling 5,105 shares during the quarter. Wellington Management Group LLP owned 0.08% of Franklin Electric worth $3,584,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Spire Wealth Management bought a new stake in shares of Franklin Electric during the 4th quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in shares of Franklin Electric in the 4th quarter valued at $40,000. Blue Trust Inc. grew its position in Franklin Electric by 66.2% during the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after acquiring an additional 198 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Franklin Electric by 189.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock worth $62,000 after purchasing an additional 420 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Franklin Electric by 150.2% during the fourth quarter. ORG Partners LLC now owns 833 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 500 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Trading Down 2.9 %

Shares of Franklin Electric stock traded down $2.59 on Wednesday, hitting $86.32. The stock had a trading volume of 122,832 shares, compared to its average volume of 199,202. The stock has a 50 day moving average of $97.54 and a 200 day moving average of $100.67. The firm has a market capitalization of $3.95 billion, a P/E ratio of 22.42, a PEG ratio of 2.11 and a beta of 1.02. Franklin Electric Co., Inc. has a twelve month low of $82.69 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 2.22.

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

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.23%. Franklin Electric's dividend payout ratio (DPR) is presently 27.53%.

Insider Activity

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the company's 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 sale, the insider now owns 7,701 shares of the company's stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.72% 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.