Analysts Set Franklin Electric Co., Inc. (NASDAQ:FELE) Price Target at $100.00

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) have received an average rating of “Hold” from the five brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $100.00.

Several equities research analysts recently issued reports on FELE shares. Northcoast Research upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Friday, February 23rd. Robert W. Baird lifted their target price on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th.

Insider Buying and Selling at Franklin Electric

In related news, CEO Gregg C. Sengstack sold 10,366 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the transaction, the chief executive officer now directly owns 154,993 shares of the company’s stock, valued at $15,493,100.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Franklin Electric

Several large investors have recently modified their holdings of FELE. Pacer Advisors Inc. bought a new stake in shares of Franklin Electric during the fourth quarter worth $26,000. Principal Securities Inc. purchased a new stake in Franklin Electric in the fourth quarter worth about $33,000. GAMMA Investing LLC boosted its stake in shares of Franklin Electric by 88.0% during the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 147 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Franklin Electric in the 4th quarter valued at $34,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Franklin Electric in the 3rd quarter worth $37,000. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Down 0.8 %

FELE opened at $100.19 on Friday. The company has a market cap of $4.61 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.94 and a beta of 0.96. Franklin Electric has a 12 month low of $82.61 and a 12 month high of $107.89. The business’s 50-day moving average price is $101.79 and its 200-day moving average price is $95.00. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The business had revenue of $472.97 million during the quarter, compared to the consensus estimate of $490.47 million. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Franklin Electric will post 4.32 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were given a dividend of $0.25 per share. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, January 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. Franklin Electric’s dividend payout ratio is currently 24.33%.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.