Franklin Electric Co. (NASDAQ:FELE) has been given an average recommendation of “Hold” by the eight brokerages that are presently covering the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.75.
FELE has been the subject of a number of research reports. Zacks Investment Research lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Boenning Scattergood raised shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, July 11th.
In other Franklin Electric news, insider Robert J. Stone sold 10,000 shares of Franklin Electric stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the sale, the insider now owns 36,359 shares of the company’s stock, valued at approximately $1,455,450.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas J. Strupp sold 3,669 shares of Franklin Electric stock in a transaction on Friday, August 26th. The stock was sold at an average price of $39.05, for a total transaction of $143,274.45. Following the sale, the vice president now directly owns 23,523 shares of the company’s stock, valued at approximately $918,573.15. The disclosure for this sale can be found here. Company insiders own 2.67% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new stake in Franklin Electric during the second quarter worth approximately $11,009,000. Neuberger Berman Group LLC raised its stake in Franklin Electric by 10.4% in the second quarter. Neuberger Berman Group LLC now owns 1,805,375 shares of the company’s stock worth $59,668,000 after buying an additional 170,665 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Franklin Electric during the second quarter worth approximately $5,507,000. FMR LLC raised its stake in Franklin Electric by 61.2% in the second quarter. FMR LLC now owns 364,187 shares of the company’s stock worth $12,037,000 after buying an additional 138,250 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Franklin Electric by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,535,291 shares of the company’s stock worth $50,740,000 after buying an additional 119,649 shares in the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Franklin Electric (NASDAQ:FELE) opened at 39.70 on Monday. The stock has a 50 day moving average price of $38.94 and a 200-day moving average price of $35.46. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 25.78 and a beta of 1.62. Franklin Electric has a 12-month low of $23.75 and a 12-month high of $41.13.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company earned $252.10 million during the quarter, compared to analyst estimates of $255.60 million. Franklin Electric had a net margin of 8.07% and a return on equity of 13.27%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. Equities analysts anticipate that Franklin Electric will post $1.66 EPS for the current fiscal year.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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