Geneva Advisors LLC decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,160 shares of the industrial products company’s stock after selling 40 shares during the period. Geneva Advisors LLC’s holdings in Franklin Electric Co. were worth $421,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp raised 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 during the last quarter. Victory Capital Management Inc. raised 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 during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Franklin Electric Co. during the first quarter worth about $171,000. State of Alaska Department of Revenue raised 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 during the last quarter. Finally, Dubuque Bank & Trust Co. raised its stake in shares of Franklin Electric Co. by 6.7% in the second quarter. Dubuque Bank & Trust Co. now owns 5,361 shares of the industrial products company’s stock worth $222,000 after buying an additional 338 shares during the last quarter. 77.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of Franklin Electric Co., Inc. (NASDAQ FELE) opened at 38.35 on Thursday. Franklin Electric Co., Inc. has a 12 month low of $34.75 and a 12 month high of $46.50. The stock’s 50 day moving average price is $40.33 and its 200-day moving average price is $40.58. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 20.84 and a beta of 1.60.

Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. The firm 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 business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Equities analysts forecast that Franklin Electric Co., Inc. will post $1.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were issued a $0.108 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Tuesday, August 1st. Franklin Electric Co.’s dividend payout ratio is currently 23.37%.

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A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Franklin Electric Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub lowered Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and set a $52.00 target price (up from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday, July 26th.

In other Franklin Electric Co. news, 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 value of $1,766,700.00. Following the completion of the sale, the insider now owns 39,392 shares of the company’s stock, valued at approximately $1,772,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.

About Franklin Electric Co.

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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