Wellington Management Group LLP cut its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 25.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,878 shares of the industrial products company's stock after selling 14,058 shares during the quarter. Wellington Management Group LLP owned approximately 0.09% of Franklin Electric worth $4,390,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of 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 acquiring an additional 40,248 shares during the period. Earnest Partners LLC grew its stake in shares of Franklin Electric by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company's stock worth $150,560,000 after acquiring an additional 39,478 shares during the period. Boston Trust Walden Corp grew its stake in shares of Franklin Electric by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company's stock worth $69,082,000 after acquiring an additional 3,847 shares during the period. KBC Group NV grew its stake in shares of Franklin Electric by 19.6% during the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company's stock worth $40,571,000 after acquiring an additional 63,436 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Franklin Electric by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 210,629 shares of the industrial products company's stock worth $20,288,000 after acquiring an additional 1,712 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.
Franklin Electric Price Performance
Shares of FELE traded down $1.10 during trading hours on Tuesday, reaching $103.99. 144,479 shares of the company's stock traded hands, compared to its average volume of 175,452. The stock has a market cap of $4.75 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm's 50 day simple moving average is $105.23 and its 200-day simple moving average is $101.59. Franklin Electric Co., Inc. has a 12 month low of $91.45 and a 12 month high of $111.94.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. During the same quarter in the previous year, the firm earned $1.23 EPS. The business's quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.
Franklin Electric Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric's payout ratio is currently 25.32%.
Wall Street Analyst Weigh In
Separately, Robert W. Baird cut their target price on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th.
Read Our Latest Analysis on FELE
Insider Buying and Selling at Franklin Electric
In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now owns 9,032 shares of the company's stock, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.72% of the company's stock.
Franklin Electric Profile
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Free Report)
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.
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