Chartwell Investment Partners LLC cut its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,630 shares of the industrial products company’s stock after selling 6,587 shares during the quarter. Chartwell Investment Partners LLC owned about 0.55% of Franklin Electric Co. worth $11,554,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Manchester Capital Management LLC lifted its holdings in shares of Franklin Electric Co. by 0.3% during the second quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock worth $792,000 after buying an additional 50 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Franklin Electric Co. by 0.5% during the second quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock worth $833,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Franklin Electric Co. by 3.9% during the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after buying an additional 116 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Franklin Electric Co. by 2.3% during the second quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock worth $446,000 after buying an additional 238 shares during the last quarter. Finally, Texas Permanent School Fund lifted its holdings in shares of Franklin Electric Co. by 1.0% during the second quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock worth $1,165,000 after buying an additional 276 shares during the last quarter. Institutional investors own 78.82% of the company’s stock.

In related news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of the transaction, the vice president now directly owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.54% of the company’s stock.

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) traded up $0.45 during midday trading on Tuesday, hitting $44.80. The company had a trading volume of 149,600 shares, compared to its average volume of 156,956. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2,066.56, a price-to-earnings ratio of 24.37 and a beta of 1.62. Franklin Electric Co., Inc. has a twelve month low of $36.00 and a twelve month high of $46.95.

Franklin Electric Co. (NASDAQ:FELE) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $311.11 million during the quarter, compared to analyst estimates of $317.54 million. Franklin Electric Co. had a return on equity of 13.09% and a net margin of 8.13%. Franklin Electric Co.’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. equities analysts anticipate that Franklin Electric Co., Inc. will post 1.89 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Thursday, November 2nd were paid a $0.1075 dividend. The ex-dividend date of this dividend was Wednesday, November 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.96%. Franklin Electric Co.’s payout ratio is 23.12%.

A number of brokerages have recently commented on FELE. Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric Co. in a report on Wednesday, October 25th. Robert W. Baird upped their price target on Franklin Electric Co. from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Boenning Scattergood reiterated a “buy” rating on shares of Franklin Electric Co. in a report on Tuesday, October 24th. Zacks Investment Research lowered Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Finally, BidaskClub lowered Franklin Electric Co. from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $49.33.

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Franklin Electric Co. Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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Institutional Ownership by Quarter for Franklin Electric Co. (NASDAQ:FELE)

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