Shares of Franklin Electric Co. (NASDAQ:FELE) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $50.33 and last traded at $49.95, with a volume of 2793 shares traded. The stock had previously closed at $49.95.

A number of analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Franklin Electric in a research note on Monday, June 11th. They issued a “neutral” rating and a $50.00 price objective for the company. BidaskClub cut shares of Franklin Electric from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Zacks Investment Research cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, ValuEngine raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $48.80.

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 2.06. The company has a market capitalization of $2.29 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 2.51 and a beta of 1.58.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). The firm had revenue of $344.00 million during the quarter, compared to analysts’ expectations of $348.65 million. Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. analysts anticipate that Franklin Electric Co. will post 2.29 EPS for the current fiscal year.

In related news, VP Donald P. Kenney sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $49.00, for a total transaction of $73,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven William Aikman sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $49.89, for a total transaction of $174,615.00. Following the transaction, the vice president now directly owns 18,515 shares of the company’s stock, valued at $923,713.35. The disclosure for this sale can be found here. Corporate insiders own 2.54% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in Franklin Electric by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 688,152 shares of the industrial products company’s stock valued at $31,036,000 after acquiring an additional 20,518 shares in the last quarter. Bank of America Corp DE grew its stake in Franklin Electric by 1.5% during the second quarter. Bank of America Corp DE now owns 280,503 shares of the industrial products company’s stock valued at $12,651,000 after acquiring an additional 4,096 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Franklin Electric during the second quarter valued at $345,000. Earnest Partners LLC grew its stake in Franklin Electric by 0.3% during the second quarter. Earnest Partners LLC now owns 2,137,877 shares of the industrial products company’s stock valued at $96,418,000 after acquiring an additional 6,258 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Franklin Electric by 1.3% during the second quarter. Gabelli Funds LLC now owns 380,500 shares of the industrial products company’s stock valued at $17,161,000 after acquiring an additional 5,000 shares in the last quarter. 78.47% of the stock is owned by institutional investors.

About Franklin Electric (NASDAQ:FELE)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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