Sargent Investment Group LLC Has $231,000 Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Sargent Investment Group LLC lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 18.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,204 shares of the industrial products company’s stock after selling 500 shares during the quarter. Sargent Investment Group LLC’s holdings in Franklin Electric were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FELE. Acadian Asset Management LLC acquired a new position in shares of Franklin Electric in the 1st quarter valued at approximately $968,000. Vanguard Group Inc. raised its position in Franklin Electric by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after purchasing an additional 30,408 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Franklin Electric by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock worth $5,197,000 after purchasing an additional 5,311 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Franklin Electric by 357.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock valued at $889,000 after purchasing an additional 7,213 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after buying an additional 7,092 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.72% of the stock is owned by insiders.

Franklin Electric Stock Performance

Franklin Electric stock opened at $106.70 on Friday. The business has a 50 day moving average of $102.40 and a 200-day moving average of $100.37. 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 Co., Inc. has a 1 year low of $87.65 and a 1 year high of $110.97. The company has a market capitalization of $4.88 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.39 and a beta of 0.96.

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

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Wall Street Analysts Forecast Growth

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

Franklin Electric Company 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.