Franklin Electric Co. Declares Quarterly Dividend of $0.11 (FELE)
Franklin Electric Co. (NASDAQ:FELE) announced a quarterly dividend on Monday, January 22nd, NASDAQ reports. Shareholders of record on Thursday, February 1st will be paid a dividend of 0.108 per share by the industrial products company on Thursday, February 15th. This represents a $0.43 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, January 31st.
Franklin Electric has raised its dividend by an average of 6.7% annually over the last three years and has increased its dividend every year for the last 8 years. Franklin Electric has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 20.3%.
Shares of Franklin Electric (NASDAQ FELE) opened at $45.65 on Friday. Franklin Electric has a one year low of $36.00 and a one year high of $47.20. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2,087.55, a price-to-earnings ratio of 24.62 and a beta of 1.62.
Several equities research analysts have issued reports on FELE shares. Boenning Scattergood reaffirmed a “buy” rating on shares of Franklin Electric in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, January 16th. Robert W. Baird reaffirmed a “hold” rating and set a $45.00 target price on shares of Franklin Electric in a research note on Wednesday, October 4th. BidaskClub raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.00.
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Franklin Electric 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.
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