Private Ocean LLC maintained its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,964 shares of the industrial products company’s stock at the end of the second quarter. Private Ocean LLC’s holdings in Franklin Electric Co. were worth $123,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of FELE. Fifth Third Bancorp boosted its stake in shares of Franklin Electric Co. by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock worth $114,000 after buying an additional 196 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Franklin Electric Co. by 13.5% in the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after buying an additional 347 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Franklin Electric Co. during the first quarter worth approximately $171,000. State of Alaska Department of Revenue boosted its stake in shares of Franklin Electric Co. by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,250 shares of the industrial products company’s stock worth $182,000 after buying an additional 100 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Franklin Electric Co. during the first quarter worth approximately $228,000. 77.00% of the stock is owned by institutional investors.

Franklin Electric Co., Inc. (FELE) opened at 38.05 on Tuesday. The firm’s 50 day moving average price is $40.33 and its 200-day moving average price is $40.58. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 20.68 and a beta of 1.60. Franklin Electric Co., Inc. has a 1-year low of $34.75 and a 1-year high of $46.50.

Franklin Electric Co. (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities analysts anticipate that Franklin Electric Co., Inc. will post $1.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Tuesday, August 1st. Franklin Electric Co.’s payout ratio is 23.37%.

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A number of analysts have commented on the company. BidaskClub cut Franklin Electric Co. from a “hold” rating to a “sell” rating in a research report on Friday. Boenning Scattergood reaffirmed an “outperform” rating and set a $52.00 price target (up previously from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday, July 26th. Finally, Zacks Investment Research raised Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research report on Wednesday, July 26th.

In other Franklin Electric Co. news, VP John J. Haines sold 4,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $41.00, for a total transaction of $164,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the transaction, the insider now directly owns 39,392 shares of the company’s stock, valued at $1,772,640. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.

Franklin Electric Co. Company Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

Institutional Ownership by Quarter for Franklin Electric Co. (NASDAQ:FELE)

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