Shares of Franklin Electric Co. (NASDAQ:FELE) 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.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Franklin Electric from a “sell” rating to a “buy” rating and set a $36.00 price objective on the stock in a report 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 objective on the stock. in a report on Friday, June 10th. Boenning Scattergood upgraded shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Monday, July 11th. Finally, Sterne Agee CRT reiterated a “buy” rating on shares of Franklin Electric in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Franklin Electric currently has a consensus rating of “Buy” and a consensus price target of $35.00.

The firm has a 50-day moving average price of $34.24 and a 200 day moving average price of $31.01. The stock has a market cap of $1.73 billion and a price-to-earnings ratio of 27.32.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Monday, May 2nd. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $218.40 million for the quarter, compared to analyst estimates of $217.20 million. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts anticipate that Franklin Electric Co. will post $1.64 EPS for the current year.

In other Franklin Electric news, VP Donald P. Kenney sold 1,100 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $34.24, for a total transaction of $37,664.00. Following the transaction, the vice president now directly owns 18,527 shares in the company, valued at approximately $634,364.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas J. Strupp sold 1,627 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $32.17, for a total value of $52,340.59. Following the transaction, the vice president now owns 16,023 shares in the company, valued at $515,459.91. The disclosure for this sale can be found here.

Several institutional investors have bought and sold shares of FELE. Russell Frank Co boosted 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 last quarter. California State Teachers Retirement System boosted 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 last quarter. Rhumbline Advisers boosted 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 last quarter. Tributary Capital Management LLC boosted 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 last quarter. Finally, Morgan Stanley boosted its position in 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 last quarter.

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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