Franklin Electric (FELE) Rating Increased to Sell at BidaskClub
BidaskClub upgraded shares of Franklin Electric (NASDAQ:FELE) from a strong sell rating to a sell rating in a research report report published on Thursday.
A number of other research firms have also issued reports on FELE. Zacks Investment Research raised shares of Franklin Electric from a hold rating to a buy rating and set a $51.00 target price for the company in a research note on Tuesday, January 16th. Boenning Scattergood reaffirmed a buy rating and issued a $54.00 price target on shares of Franklin Electric in a research note on Tuesday, February 20th. Seaport Global Securities reaffirmed a hold rating and issued a $41.00 price target on shares of Franklin Electric in a research note on Friday, February 23rd. Robert W. Baird reaffirmed a hold rating and issued a $47.00 price target on shares of Franklin Electric in a research note on Friday, February 23rd. Finally, Gabelli reaffirmed a hold rating on shares of Franklin Electric in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Franklin Electric has a consensus rating of Hold and a consensus price target of $46.75.
Franklin Electric (FELE) traded up $1.35 during trading on Thursday, reaching $42.90. 84,454 shares of the company’s stock were exchanged, compared to its average volume of 130,115. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.40 and a quick ratio of 1.13. The firm has a market cap of $2,000.43, a price-to-earnings ratio of 25.84 and a beta of 1.60. Franklin Electric has a 52-week low of $36.00 and a 52-week high of $47.20.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were paid a $0.108 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Wednesday, January 31st. Franklin Electric’s dividend payout ratio is currently 25.90%.
Several large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Franklin Electric in the 4th quarter worth approximately $208,000. MetLife Investment Advisors LLC acquired a new stake in shares of Franklin Electric in the 4th quarter worth approximately $969,000. Millennium Management LLC lifted its stake in shares of Franklin Electric by 479.1% in the 4th quarter. Millennium Management LLC now owns 60,527 shares of the industrial products company’s stock worth $2,778,000 after acquiring an additional 50,075 shares during the period. Meadow Creek Investment Management LLC lifted its stake in shares of Franklin Electric by 29.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 1,204 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Franklin Electric by 2.4% in the 4th quarter. Teachers Advisors LLC now owns 84,644 shares of the industrial products company’s stock worth $3,885,000 after acquiring an additional 1,999 shares during the period. 76.58% of the stock is owned by institutional investors.
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About Franklin Electric
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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