Franklin Electric (NASDAQ:FELE) Lifted to “Buy” at BidaskClub
Separately, Zacks Investment Research upgraded Franklin Electric from a sell rating to a hold rating in a research report on Monday, September 9th.
NASDAQ:FELE opened at $49.33 on Friday. Franklin Electric has a 52 week low of $38.87 and a 52 week high of $55.59. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.33 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 4.55 and a beta of 1.31. The stock’s 50-day moving average price is $46.12 and its 200-day moving average price is $47.60.
In related news, insider Delancey W. Davis sold 2,400 shares of Franklin Electric stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.26, for a total value of $120,624.00. Following the sale, the insider now directly owns 18,486 shares in the company, valued at approximately $929,106.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Steven William Aikman sold 3,000 shares of Franklin Electric stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,836 shares of company stock worth $1,233,014 over the last 90 days. Insiders own 2.88% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Franklin Electric in the 1st quarter worth about $536,000. GYL Financial Synergies LLC acquired a new stake in Franklin Electric in the 1st quarter worth about $929,000. Piedmont Investment Advisors Inc. boosted its holdings in Franklin Electric by 6.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 9,949 shares of the industrial products company’s stock worth $508,000 after buying an additional 583 shares during the last quarter. Earnest Partners LLC boosted its holdings in Franklin Electric by 0.9% in the 2nd quarter. Earnest Partners LLC now owns 2,130,166 shares of the industrial products company’s stock worth $101,183,000 after buying an additional 19,417 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in Franklin Electric by 1.8% in the 2nd quarter. King Luther Capital Management Corp now owns 1,242,118 shares of the industrial products company’s stock worth $59,001,000 after buying an additional 22,555 shares during the last quarter. Institutional investors own 77.51% of the company’s stock.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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