Franklin Electric Co. (NASDAQ:FELE) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $38.36 and last traded at $38.00, with a volume of 80,920 shares changing hands. The stock had previously closed at $38.03.

FELE has been the subject of a number of analyst reports. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, June 29th. Sterne Agee CRT restated a “buy” rating on shares of Franklin Electric in a research report on Monday, May 16th. TheStreet raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Monday, March 21st. Seaport Global Securities lowered Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research report on Friday, June 10th. Finally, Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.83.

The firm’s 50-day moving average price is $34.00 and its 200 day moving average price is $30.84. The firm has a market cap of $1.74 billion and a price-to-earnings ratio of 27.54.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. The firm earned $218.40 million during the quarter, compared to the consensus estimate of $217.20 million. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. Analysts expect that Franklin Electric Co. will post $1.64 EPS for the current fiscal year.

In other news, VP Donald P. Kenney sold 1,100 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $34.24, for a total value of $37,664.00. Following the transaction, the vice president now owns 18,527 shares of the company’s stock, valued at approximately $634,364.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John J. Haines sold 4,546 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $34.00, for a total value of $154,564.00. Following the completion of the transaction, the chief financial officer now directly owns 39,860 shares in the company, valued at approximately $1,355,240. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently bought and sold shares of the stock. Tributary Capital Management LLC increased its position in 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. California State Teachers Retirement System increased its position in Franklin Electric by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 88,297 shares of the company’s stock worth $2,387,000 after buying an additional 1,412 shares during the period. Wells Fargo & Company MN increased its position in 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. Russell Frank Co increased its position in Franklin Electric by 103.9% in the fourth quarter. Russell Frank Co now owns 127,966 shares of the company’s stock worth $3,543,000 after buying an additional 65,204 shares during the period. Finally, Rhumbline Advisers increased its position in 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.

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