American International Group Inc. Has $1.60 Million Stake in Franklin Electric Co. (FELE)
American International Group Inc. increased its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 6.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 35,750 shares of the industrial products company’s stock after acquiring an additional 2,054 shares during the period. American International Group Inc. owned 0.08% of Franklin Electric worth $1,603,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Franklin Electric by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,700,634 shares of the industrial products company’s stock valued at $70,406,000 after purchasing an additional 76,710 shares during the period. Schroder Investment Management Group boosted its stake in Franklin Electric by 5.2% during the 2nd quarter. Schroder Investment Management Group now owns 831,352 shares of the industrial products company’s stock valued at $33,794,000 after purchasing an additional 41,242 shares during the period. Channing Capital Management LLC bought a new stake in Franklin Electric during the 3rd quarter valued at approximately $30,888,000. KBC Group NV boosted its stake in Franklin Electric by 2.5% during the 2nd quarter. KBC Group NV now owns 86,072 shares of the industrial products company’s stock valued at $3,563,000 after purchasing an additional 2,120 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Franklin Electric by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,594,418 shares of the industrial products company’s stock valued at $66,008,000 after purchasing an additional 18,598 shares during the period. 78.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Franklin Electric Co. (NASDAQ:FELE) opened at $45.35 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. Franklin Electric Co. has a 52-week low of $36.00 and a 52-week high of $47.20. The company has a market capitalization of $2,108.50, a P/E ratio of 24.86 and a beta of 1.62.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Franklin Electric had a return on equity of 13.09% and a net margin of 8.13%. The company had revenue of $311.11 million during the quarter, compared to the consensus estimate of $317.54 million. During the same quarter last year, the company earned $0.48 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. sell-side analysts expect that Franklin Electric Co. will post 1.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd were given a $0.1075 dividend. The ex-dividend date was Wednesday, November 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.95%. Franklin Electric’s dividend payout ratio is currently 23.12%.
FELE has been the subject of several recent analyst reports. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, September 27th. Boenning Scattergood reiterated a “buy” rating on shares of Franklin Electric in a research report on Tuesday, October 24th. Robert W. Baird reiterated a “hold” rating and issued a $45.00 price objective on shares of Franklin Electric in a research report on Wednesday, October 4th. Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. Finally, BidaskClub downgraded Franklin Electric from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Franklin Electric currently has a consensus rating of “Hold” and an average price target of $49.33.
In related news, VP Donald P. Kenney sold 4,754 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $45.00, for a total transaction of $213,930.00. Following the completion of the transaction, the vice president now owns 19,129 shares in the company, valued at approximately $860,805. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.54% of the stock is owned by company insiders.
Franklin Electric 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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