F M Investments LLC Sells 119 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

F M Investments LLC cut its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,963 shares of the industrial products company’s stock after selling 119 shares during the quarter. F M Investments LLC’s holdings in Franklin Electric were worth $9,954,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FELE. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 107 shares during the period. ORG Partners LLC acquired a new stake in shares of Franklin Electric during the second quarter worth $36,000. GAMMA Investing LLC grew its position in shares of Franklin Electric by 130.6% during the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 410 shares in the last quarter. CWM LLC increased its holdings in shares of Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Franklin Electric in the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday.

Franklin Electric Trading Up 1.9 %

Shares of FELE stock traded up $1.79 during trading hours on Friday, hitting $97.50. 197,827 shares of the company’s stock traded hands, compared to its average volume of 175,203. The company has a quick ratio of 1.14, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 12 month low of $85.47 and a 12 month high of $108.39. The stock has a market cap of $4.45 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The stock’s 50 day simple moving average is $101.64 and its 200 day simple moving average is $100.11.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the previous year, the firm earned $1.23 EPS. Franklin Electric’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 3.84 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

About Franklin Electric

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.