Duality Advisers LP Sells 197 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Duality Advisers LP trimmed its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,720 shares of the industrial products company’s stock after selling 197 shares during the quarter. Duality Advisers LP’s holdings in Franklin Electric were worth $843,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Franklin Electric by 35.3% during the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 141 shares during the period. Arizona State Retirement System increased its stake in Franklin Electric by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 11,179 shares of the industrial products company’s stock worth $998,000 after acquiring an additional 143 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Franklin Electric by 8.1% in the 3rd quarter. Caprock Group LLC now owns 2,372 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 178 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Franklin Electric by 5.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,548 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 222 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Franklin Electric in the 4th quarter valued at about $26,000. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Price Performance

Shares of Franklin Electric stock opened at $102.85 on Thursday. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.73 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The business’s 50-day moving average price is $102.26 and its 200-day moving average price is $95.48. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $107.89.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The firm had revenue of $472.97 million for the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. Franklin Electric’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.32 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.97%. Franklin Electric’s dividend payout ratio (DPR) is presently 24.33%.

Insider Activity

In related news, CEO Gregg C. Sengstack sold 10,366 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the transaction, the chief executive officer now directly owns 154,993 shares in the company, valued at approximately $15,493,100.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FELE shares. StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 14th. Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Friday, February 23rd. Finally, Robert W. Baird raised their price target on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Franklin Electric has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Franklin Electric Profile

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