Shares of Franklin Electric Co. (NASDAQ:FELE) shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $38.69 and last traded at $38.61, with a volume of 59,443 shares. The stock had previously closed at $38.13.

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

The stock has a market capitalization of $1.79 billion and a P/E ratio of 25.08. The stock’s 50 day moving average is $36.72 and its 200 day moving average is $32.82.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $252.10 million for the quarter, compared to the consensus estimate of $255.60 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. On average, analysts forecast that Franklin Electric Co. will post $1.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.04%.

In other news, VP Thomas J. Strupp sold 5,082 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $37.52, for a total value of $190,676.64. Following the transaction, the vice president now owns 29,023 shares of the company’s stock, valued at $1,088,942.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Donald P. Kenney sold 1,000 shares of the company’s 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 transaction, the vice president now directly owns 19,627 shares in the company, valued at approximately $652,990.29. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. 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 valued at $3,543,000 after buying an additional 65,204 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 valued at $1,846,000 after buying an additional 3,620 shares during the last quarter. 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 valued at $11,306,000 after buying an additional 261,097 shares during the last quarter. Wells Fargo & Company MN boosted 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 valued at $33,224,000 after buying an additional 4,363 shares during the last quarter. Finally, KBC Group NV boosted its position in Franklin Electric by 28.6% in the fourth quarter. KBC Group NV now owns 85,385 shares of the company’s stock valued at $2,308,000 after buying an additional 18,987 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.

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.