Barclays PLC Has $9.18 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Barclays PLC raised its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 237.3% in the third quarter, Holdings Channel reports. The institutional investor owned 87,620 shares of the industrial products company’s stock after buying an additional 61,640 shares during the quarter. Barclays PLC’s holdings in Franklin Electric were worth $9,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its stake in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 107 shares during the period. CWM LLC grew its holdings in shares of Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Franklin Electric during the third quarter valued at approximately $74,000. Signaturefd LLC raised its stake in shares of Franklin Electric by 29.9% in the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Franklin Electric in the third quarter worth $77,000. 79.98% of the stock is owned by institutional investors.

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped 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.

Franklin Electric Price Performance

Franklin Electric stock opened at $103.99 on Wednesday. The business has a 50 day simple moving average of $105.23 and a 200 day simple moving average of $101.62. Franklin Electric Co., Inc. has a one year low of $91.45 and a one year high of $111.94. The company has a market capitalization of $4.75 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. On average, sell-side analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is currently 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.