Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,500 shares of the industrial products company’s stock after selling 3,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Franklin Electric were worth $3,092,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA lifted its holdings in Franklin Electric by 2.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 8,077 shares of the industrial products company’s stock worth $847,000 after buying an additional 202 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Franklin Electric by 15.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,027 shares of the industrial products company’s stock valued at $4,091,000 after acquiring an additional 5,235 shares in the last quarter. FMR LLC lifted its stake in Franklin Electric by 49.4% during the third quarter. FMR LLC now owns 7,588 shares of the industrial products company’s stock worth $795,000 after purchasing an additional 2,508 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Franklin Electric by 6,578.0% in the third quarter. Quantbot Technologies LP now owns 12,421 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 12,235 shares during the period. Finally, Citigroup Inc. increased its stake in Franklin Electric by 73.1% during the third quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock valued at $6,176,000 after purchasing an additional 24,889 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their price target on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

Franklin Electric Trading Up 1.1 %

NASDAQ:FELE opened at $108.30 on Friday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 2.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. Franklin Electric Co., Inc. has a 1 year low of $87.95 and a 1 year high of $111.94. The business has a fifty day moving average of $104.56 and a 200-day moving average of $100.94.

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

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric 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.