OLD National Bancorp IN Sells 1,350 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

OLD National Bancorp IN decreased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 24.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,248 shares of the industrial products company’s stock after selling 1,350 shares during the period. OLD National Bancorp IN’s holdings in Franklin Electric were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FELE. SG Americas Securities LLC boosted its position in shares of Franklin Electric by 864.2% during the 3rd quarter. SG Americas Securities LLC now owns 23,767 shares of the industrial products company’s stock valued at $2,121,000 after purchasing an additional 21,302 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Franklin Electric by 26.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 19,453 shares of the industrial products company’s stock valued at $1,684,000 after purchasing an additional 4,098 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Franklin Electric by 6.0% during the 3rd quarter. Boston Trust Walden Corp now owns 498,641 shares of the industrial products company’s stock valued at $44,494,000 after purchasing an additional 28,412 shares in the last quarter. Washington Trust Advisors Inc. bought a new position in Franklin Electric in the third quarter worth approximately $410,000. Finally, Caprock Group LLC boosted its holdings in Franklin Electric by 8.1% in the third quarter. Caprock Group LLC now owns 2,372 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, CEO Gregg C. Sengstack sold 10,366 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE opened at $102.85 on Thursday. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.00 and a beta of 0.96. The stock has a 50 day moving average of $102.26 and a 200 day moving average of $95.48. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $107.89.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The firm had revenue of $472.97 million during the quarter, compared to analysts’ expectations of $490.47 million. During the same period in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.32 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Wednesday, May 1st. Franklin Electric’s payout ratio is currently 24.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Northcoast Research upgraded 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. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 14th. Finally, Robert W. Baird raised their target price on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Franklin Electric Company Profile

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.