Franklin Electric Co., Inc. (FELE) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Franklin Electric Co., Inc. (NASDAQ:FELE) from a buy rating to a hold rating in a report issued on Tuesday, July 25th.

Separately, Zacks Investment Research upgraded Franklin Electric Co. from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research report on Tuesday, April 25th.

Shares of Franklin Electric Co. (NASDAQ FELE) traded up 0.26% on Tuesday, reaching $39.15. The company’s stock had a trading volume of 106,125 shares. The stock has a 50-day moving average of $40.90 and a 200 day moving average of $40.70. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 21.28 and a beta of 1.60. Franklin Electric Co. has a 52 week low of $34.75 and a 52 week high of $46.50.

Franklin Electric Co. (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The business had revenue of $305.35 million for the quarter, compared to analyst estimates of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. Franklin Electric Co.’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 EPS. On average, analysts expect that Franklin Electric Co. will post $1.89 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Franklin Electric Co., Inc. (FELE) Stock Rating Lowered by BidaskClub” was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://stocknewstimes.com/2017/08/12/franklin-electric-co-inc-fele-lowered-to-hold-at-bidaskclub-updated-updated.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a $0.108 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $0.43 dividend on an annualized basis and a yield of 1.10%. Franklin Electric Co.’s payout ratio is 23.37%.

In other news, insider Delancey W. Davis sold 4,071 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $34.45, for a total value of $140,245.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert J. Stone sold 39,260 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the completion of the transaction, the insider now owns 39,392 shares in the company, valued at $1,772,640. The disclosure for this sale can be found here. Insiders sold a total of 47,331 shares of company stock worth $2,070,946 over the last 90 days. 2.54% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC increased its stake in shares of Franklin Electric Co. by 0.3% in the second quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock valued at $792,000 after buying an additional 50 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Franklin Electric Co. by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,250 shares of the industrial products company’s stock valued at $182,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Franklin Electric Co. by 0.5% in the second quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock valued at $833,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Franklin Electric Co. by 3.9% in the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after buying an additional 116 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Franklin Electric Co. by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after buying an additional 196 shares during the last quarter. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Co. Company 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.

Receive News & Ratings for Franklin Electric Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply