Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC raised its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 189.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 642 shares of the industrial products company’s stock after purchasing an additional 420 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Franklin Electric were worth $62,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Spire Wealth Management acquired a new stake in shares of Franklin Electric during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new stake in shares of Franklin Electric in the 4th quarter worth $40,000. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 198 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Franklin Electric during the third quarter worth about $77,000. Finally, Covestor Ltd increased its stake in shares of Franklin Electric by 15.6% during the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 103 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $100.50 on Tuesday. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94. The company has a 50-day moving average price of $99.77 and a 200 day moving average price of $101.97. The company has a market cap of $4.59 billion, a P/E ratio of 26.10, a PEG ratio of 2.11 and a beta of 0.98. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. Research analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, February 6th. Franklin Electric’s payout ratio is presently 27.53%.

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.