Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,397 shares of the industrial products company’s stock after selling 379 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Franklin Electric were worth $2,243,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares during the period. ORG Partners LLC acquired a new stake in Franklin Electric during the 2nd quarter worth about $36,000. GAMMA Investing LLC increased its holdings in shares of Franklin Electric by 130.6% in the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 410 shares during the period. CWM LLC lifted its position in shares of Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Franklin Electric during the third quarter worth approximately $74,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares in the company, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE stock opened at $106.09 on Friday. Franklin Electric Co., Inc. has a fifty-two week low of $87.65 and a fifty-two week high of $110.97. The stock’s 50-day moving average is $102.81 and its two-hundred day moving average is $100.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The firm has a market cap of $4.85 billion, a P/E ratio of 26.86, a PEG ratio of 2.39 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. Analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s dividend payout ratio is presently 25.32%.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

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.