Franklin Electric Co., Inc. (NASDAQ:FELE) Holdings Reduced by Sargent Investment Group LLC

Sargent Investment Group LLC lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 18.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,204 shares of the industrial products company’s stock after selling 500 shares during the period. Sargent Investment Group LLC’s holdings in Franklin Electric were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FELE. Blue Trust Inc. raised its position in 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 acquiring an additional 107 shares in the last quarter. ORG Partners LLC bought a new stake in Franklin Electric in the second quarter worth approximately $36,000. GAMMA Investing LLC increased its position in Franklin Electric by 130.6% during the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after buying an additional 410 shares during the last quarter. CWM LLC increased its holdings in shares of Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 98 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of Franklin Electric in the third quarter valued at approximately $74,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Franklin Electric Stock Down 2.3 %

Shares of NASDAQ FELE opened at $106.70 on Friday. Franklin Electric Co., Inc. has a 52-week low of $87.65 and a 52-week high of $110.97. The stock has a market cap of $4.88 billion, a PE ratio of 27.01, a PEG ratio of 2.39 and a beta of 0.96. The business has a fifty day moving average of $102.40 and a two-hundred day moving average of $100.37. 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 (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter last year, the company earned $1.23 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect 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. Shareholders of record on Thursday, November 7th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Franklin Electric’s payout ratio is presently 25.32%.

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.