Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $87.00.
Several equities research analysts have weighed in on the company. DA Davidson increased their target price on Franklin Electric to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Robert W. Baird upped their price target on shares of Franklin Electric from $75.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. StockNews.com upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, July 30th. Finally, Northcoast Research downgraded Franklin Electric from a “buy” rating to a “neutral” rating in a research note on Monday, August 15th.
Franklin Electric Trading Down 0.4 %
Shares of NASDAQ FELE opened at $81.45 on Tuesday. The stock has a market capitalization of $3.77 billion, a P/E ratio of 21.90 and a beta of 1.06. The stock’s 50 day moving average price is $87.81 and its two-hundred day moving average price is $80.05. The company has a quick ratio of 0.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. Franklin Electric has a 52-week low of $68.27 and a 52-week high of $96.95.
Franklin Electric (NASDAQ:FELE – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.20. The company had revenue of $551.10 million for the quarter, compared to the consensus estimate of $528.67 million. Franklin Electric had a net margin of 9.29% and a return on equity of 17.82%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. On average, analysts anticipate that Franklin Electric will post 4.13 earnings per share for the current fiscal year.
Franklin Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, August 3rd. Franklin Electric’s dividend payout ratio is presently 20.97%.
Insider Buying and Selling
In related news, insider Delancey W. Davis sold 10,973 shares of Franklin Electric stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $86.21, for a total value of $945,982.33. Following the transaction, the insider now owns 10,777 shares of the company’s stock, valued at approximately $929,085.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Franklin Electric news, insider Jonathan M. Grandon sold 1,536 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $94.66, for a total transaction of $145,397.76. Following the sale, the insider now directly owns 16,517 shares of the company’s stock, valued at approximately $1,563,499.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Delancey W. Davis sold 10,973 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $86.21, for a total value of $945,982.33. Following the completion of the sale, the insider now owns 10,777 shares of the company’s stock, valued at approximately $929,085.17. The disclosure for this sale can be found here. Insiders have sold 44,973 shares of company stock worth $4,054,351 in the last three months. 3.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of FELE. Parkside Financial Bank & Trust grew its stake in Franklin Electric by 138.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 289 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. CWM LLC grew its stake in Franklin Electric by 226.5% in the first quarter. CWM LLC now owns 369 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 256 shares in the last quarter. Van ECK Associates Corp increased its position in Franklin Electric by 68.0% in the 1st quarter. Van ECK Associates Corp now owns 405 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 164 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Franklin Electric during the 2nd quarter worth about $37,000. Finally, Brown Brothers Harriman & Co. bought a new position in Franklin Electric during the first quarter valued at approximately $38,000. 78.65% of the stock is owned by institutional investors and hedge funds.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.
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Read More: Franklin Electric Co., Inc. (NASDAQ:FELE) Given Consensus Recommendation of “Moderate