SkyOak Wealth LLC Decreases Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

SkyOak Wealth LLC lessened its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 22.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,088 shares of the industrial products company’s stock after selling 590 shares during the period. SkyOak Wealth LLC’s holdings in Franklin Electric were worth $203,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 107 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Franklin Electric in the fourth quarter worth $29,000. Trust Co. of Vermont bought a new stake in Franklin Electric during the 4th quarter valued at $40,000. CWM LLC boosted its position in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares during the period. Finally, USA Financial Formulas bought a new stake in Franklin Electric in the 3rd quarter worth $74,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now owns 9,032 shares in the company, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.72% of the stock is owned by insiders.

Franklin Electric Stock Performance

Shares of FELE stock opened at $99.99 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $101.03 and a 200 day moving average of $101.80. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.93 and a beta of 1.00. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.265 per share. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.06%. Franklin Electric’s payout ratio is presently 25.32%.

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.