Shares of Franklin Electric Co. (NASDAQ:FELE) traded up 3.3% during mid-day trading on Wednesday . The company traded as high as $37.92 and last traded at $37.82, with a volume of 399,218 shares traded. The stock had previously closed at $36.62.

FELE has been the subject of several recent research reports. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, May 3rd. Seaport Global Securities downgraded shares of Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Friday, June 10th. Boenning Scattergood raised shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Monday. TheStreet raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Monday, March 21st. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Franklin Electric in a research note on Monday, May 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.83.

The stock’s 50-day moving average price is $33.85 and its 200-day moving average price is $30.77. The stock has a market cap of $1.74 billion and a PE ratio of 27.49.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Monday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $218.40 million for the quarter, compared to analysts’ expectations of $217.20 million. During the same period in the previous year, the business posted $0.32 earnings per share. Franklin Electric’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts expect that Franklin Electric Co. will post $1.64 EPS for the current fiscal year.

In other news, VP Thomas J. Strupp sold 1,627 shares of the stock in a transaction on Friday, May 6th. The shares were sold at an average price of $32.17, for a total value of $52,340.59. Following the completion of the sale, the vice president now directly owns 16,023 shares of the company’s stock, valued at $515,459.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald P. Kenney sold 1,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $33.27, for a total transaction of $33,270.00. Following the completion of the sale, the vice president now directly owns 19,627 shares of the company’s stock, valued at $652,990.29. The disclosure for this sale can be found here.

Other hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Franklin Electric by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 262,619 shares of the company’s stock worth $7,099,000 after buying an additional 14,002 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Franklin Electric by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,229,172 shares of the company’s stock worth $33,224,000 after buying an additional 4,363 shares during the period. Morgan Stanley boosted its stake in shares of Franklin Electric by 166.2% in the fourth quarter. Morgan Stanley now owns 418,213 shares of the company’s stock worth $11,306,000 after buying an additional 261,097 shares during the period. Tributary Capital Management LLC boosted its stake in shares of Franklin Electric by 11.0% in the fourth quarter. Tributary Capital Management LLC now owns 195,284 shares of the company’s stock worth $5,279,000 after buying an additional 19,386 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Franklin Electric by 5.6% in the fourth quarter. Rhumbline Advisers now owns 68,297 shares of the company’s stock worth $1,846,000 after buying an additional 3,620 shares during the period.

Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.