Boston Trust Walden Corp Sells 10,541 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Boston Trust Walden Corp lowered its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 648,516 shares of the industrial products company’s stock after selling 10,541 shares during the period. Boston Trust Walden Corp owned approximately 1.42% of Franklin Electric worth $63,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. KBC Group NV raised its stake in Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after purchasing an additional 63,436 shares in the last quarter. Barclays PLC lifted its holdings in shares of Franklin Electric by 237.3% during the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company’s stock worth $9,184,000 after acquiring an additional 61,640 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Franklin Electric by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock worth $212,810,000 after acquiring an additional 40,248 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Franklin Electric by 26.1% in the third quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company’s stock valued at $16,174,000 after acquiring an additional 31,937 shares during the last quarter. Finally, Quest Partners LLC raised its position in Franklin Electric by 691.6% during the third quarter. Quest Partners LLC now owns 29,970 shares of the industrial products company’s stock valued at $3,141,000 after purchasing an additional 26,184 shares in the last quarter. Institutional investors and hedge funds 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 company’s stock in a transaction on 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 owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Stock Performance

FELE stock opened at $99.99 on Monday. The firm has a market cap of $4.57 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $101.03 and a 200-day moving average price of $101.80. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-year high of $111.94.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.06%. Franklin Electric’s payout ratio is presently 25.32%.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price target on 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 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.