Advisor Group Inc. grew its holdings in shares of Franklin Electric Co. (NASDAQ:FELE) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,034 shares of the industrial products company’s stock after buying an additional 585 shares during the period. Advisor Group Inc.’s holdings in Franklin Electric were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in FELE. BlackRock Inc. raised its stake in Franklin Electric by 4.1% during the 3rd quarter. BlackRock Inc. now owns 6,031,721 shares of the industrial products company’s stock valued at $284,997,000 after acquiring an additional 240,251 shares during the last quarter. Morgan Stanley increased its position in Franklin Electric by 34.9% during the 3rd quarter. Morgan Stanley now owns 408,447 shares of the industrial products company’s stock worth $19,299,000 after purchasing an additional 105,636 shares during the period. Vanguard Group Inc increased its position in Franklin Electric by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 4,313,834 shares of the industrial products company’s stock worth $203,829,000 after purchasing an additional 104,385 shares during the period. Vanguard Group Inc. increased its position in Franklin Electric by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,313,834 shares of the industrial products company’s stock worth $203,829,000 after purchasing an additional 104,385 shares during the period. Finally, Eaton Vance Management acquired a new position in Franklin Electric during the 4th quarter worth approximately $2,387,000. 78.53% of the stock is owned by institutional investors.
Shares of Franklin Electric stock traded up $0.54 during trading hours on Monday, reaching $51.26. 129,712 shares of the company’s stock were exchanged, compared to its average volume of 165,319. The company has a quick ratio of 1.04, a current ratio of 2.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.35 billion, a PE ratio of 22.68, a P/E/G ratio of 4.20 and a beta of 1.37. Franklin Electric Co. has a 52-week low of $38.87 and a 52-week high of $55.59.
A number of research firms recently weighed in on FELE. BidaskClub upgraded Franklin Electric from a “sell” rating to a “hold” rating in a report on Friday, December 21st. Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a report on Monday, January 28th. ValuEngine upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $54.00 target price on shares of Franklin Electric in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Franklin Electric has a consensus rating of “Hold” and an average target price of $52.00.
In related news, VP John J. Haines sold 4,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $55.18, for a total value of $220,720.00. Following the completion of the sale, the vice president now directly owns 41,785 shares in the company, valued at approximately $2,305,696.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Delancey W. Davis sold 2,705 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $53.75, for a total value of $145,393.75. Following the sale, the insider now owns 21,349 shares of the company’s stock, valued at $1,147,508.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,090 shares of company stock valued at $706,639. 2.88% of the stock is owned by insiders.
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Franklin Electric Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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