Franklin Electric (NASDAQ:FELE) Sets New 12-Month High Following Earnings Beat

Franklin Electric Co., Inc. (NASDAQ:FELE) shares hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $115.82 and last traded at $112.7760, with a volume of 19214 shares trading hands. The stock had previously closed at $105.43.

The industrial products company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.12 annualized dividend and a yield of 1.0%. Franklin Electric’s payout ratio is 33.73%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research report on Tuesday, June 9th. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, DA Davidson reiterated a “neutral” rating and set a $100.00 price objective on shares of Franklin Electric in a research note on Tuesday, June 16th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $106.00.

Insider Buying and Selling

In related news, insider Delancey W. Davis sold 1,900 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total value of $190,000.00. Following the transaction, the insider directly owned 10,402 shares of the company’s stock, valued at approximately $1,040,200. The trade was a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Grandon sold 8,547 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the transaction, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,835 shares of company stock worth $2,004,982. 2.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Franklin Electric

Several hedge funds have recently modified their holdings of the stock. Morgan Stanley boosted its position in shares of Franklin Electric by 0.5% during the fourth quarter. Morgan Stanley now owns 1,790,205 shares of the industrial products company’s stock worth $171,019,000 after acquiring an additional 8,356 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Franklin Electric by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock valued at $93,059,000 after acquiring an additional 36,268 shares during the last quarter. Amundi increased its holdings in Franklin Electric by 25.2% in the 1st quarter. Amundi now owns 881,425 shares of the industrial products company’s stock valued at $81,225,000 after acquiring an additional 177,433 shares during the last quarter. Bank of America Corp DE lifted its stake in Franklin Electric by 11.0% in the 1st quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company’s stock worth $75,956,000 after purchasing an additional 81,988 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Franklin Electric by 9.2% in the 2nd quarter. Invesco Ltd. now owns 607,040 shares of the industrial products company’s stock worth $54,476,000 after purchasing an additional 50,895 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

The firm has a market cap of $5.03 billion, a P/E ratio of 33.98, a P/E/G ratio of 1.92 and a beta of 1.03. The firm’s fifty day simple moving average is $102.64 and its 200 day simple moving average is $100.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.14 and a current ratio of 2.67.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.