Franklin Electric Co. (NASDAQ:FELE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Franklin Electric Company is the world’s largest manufacturer of submersible electric motors and a leading producer of engineered specialty electric motor products and electronic controls used by original equipment manufacturers around the world, in a wide variety of residential, industrial and municipal applications. The principal application for Franklin’s submersible electric motors is for water well pumping systems. “

Analyst Recommendations for Franklin Electric (NASDAQ:FELE)

Shares of Franklin Electric (NASDAQ:FELE) traded up 3.27% on Wednesday, reaching $39.50. The company’s stock had a trading volume of 234,581 shares. The stock has a 50-day moving average price of $38.36 and a 200-day moving average price of $36.69. Franklin Electric has a 1-year low of $23.75 and a 1-year high of $43.00. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.55 and a beta of 1.48.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Franklin Electric had a return on equity of 13.01% and a net margin of 8.31%. The company had revenue of $239.80 million for the quarter, compared to analysts’ expectations of $244.09 million. During the same quarter last year, the company earned $0.45 EPS. Franklin Electric’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Franklin Electric will post $1.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were issued a $0.10 dividend. The ex-dividend date was Tuesday, November 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. Franklin Electric’s payout ratio is currently 24.84%.

In other news, VP Thomas J. Strupp sold 3,669 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $39.05, for a total value of $143,274.45. Following the transaction, the vice president now owns 23,523 shares in the company, valued at approximately $918,573.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Steven William Aikman sold 5,700 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $41.63, for a total value of $237,291.00. Following the completion of the transaction, the vice president now owns 19,613 shares in the company, valued at approximately $816,489.19. The disclosure for this sale can be found here. 2.67% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its position in Franklin Electric by 7.8% in the third quarter. BlackRock Fund Advisors now owns 2,862,259 shares of the company’s stock worth $116,523,000 after buying an additional 207,571 shares during the last quarter. Neuberger Berman Group LLC increased its position in Franklin Electric by 10.4% in the second quarter. Neuberger Berman Group LLC now owns 1,805,375 shares of the company’s stock worth $59,668,000 after buying an additional 170,665 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Franklin Electric by 6.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,688,600 shares of the company’s stock worth $55,808,000 after buying an additional 95,675 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Franklin Electric by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,535,291 shares of the company’s stock worth $50,740,000 after buying an additional 119,649 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Franklin Electric by 0.8% in the third quarter. Wells Fargo & Company MN now owns 1,515,524 shares of the company’s stock worth $61,698,000 after buying an additional 11,555 shares during the last quarter. Institutional investors and hedge funds own 79.03% of the company’s stock.

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About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.

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