Oppenheimer Asset Management Inc. Buys New Shares in Franklin Electric Co., Inc. $FELE

Oppenheimer Asset Management Inc. purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,325 shares of the industrial products company’s stock, valued at approximately $2,179,000.

A number of other large investors also recently bought and sold shares of FELE. GAMMA Investing LLC grew its stake in shares of Franklin Electric by 20.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock valued at $190,000 after buying an additional 305 shares during the period. Harbor Investment Advisory LLC raised its position in shares of Franklin Electric by 843.3% in the 2nd quarter. Harbor Investment Advisory LLC now owns 632 shares of the industrial products company’s stock worth $68,000 after buying an additional 565 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Franklin Electric by 16.4% in the 2nd quarter. Central Pacific Bank Trust Division now owns 1,920 shares of the industrial products company’s stock worth $206,000 after buying an additional 270 shares during the period. Moody National Bank Trust Division boosted its holdings in Franklin Electric by 8.1% in the second quarter. Moody National Bank Trust Division now owns 18,468 shares of the industrial products company’s stock valued at $1,980,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Franklin Electric by 66.7% in the second quarter. Versant Capital Management Inc now owns 555 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

FELE has been the subject of a number of research reports. Weiss Ratings raised Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Robert W. Baird lifted their price objective on Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, DA Davidson boosted their target price on Franklin Electric from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Franklin Electric has an average rating of “Hold” and a consensus target price of $114.50.

Insider Activity

In other news, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the sale, the insider owned 7,509 shares in the company, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Delancey W. Davis sold 1,900 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total value of $190,000.00. Following the completion of the sale, the insider owned 10,402 shares of the company’s stock, valued at approximately $1,040,200. This trade represents a 15.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 14,647 shares of company stock valued at $1,486,326 in the last ninety days. Company insiders own 2.89% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE stock opened at $105.77 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.68 billion, a PE ratio of 30.48, a P/E/G ratio of 1.90 and a beta of 1.04. The company’s fifty day simple moving average is $105.15 and its 200-day simple moving average is $100.78. Franklin Electric Co., Inc. has a 52 week low of $89.54 and a 52 week high of $115.82.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm had revenue of $622.88 million during the quarter, compared to analysts’ expectations of $605.92 million. During the same period in the prior year, the company earned $1.31 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 6th. Franklin Electric’s payout ratio is currently 32.28%.

About Franklin Electric

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.