Franklin Electric Co., Inc. (NASDAQ:FELE) Plans Quarterly Dividend of $0.27

Franklin Electric Co., Inc. (NASDAQ:FELE) declared a quarterly dividend on Monday, January 27th,RTT News reports. Investors of record on Thursday, February 6th will be paid a dividend of 0.265 per share by the industrial products company on Thursday, February 20th. This represents a $1.06 dividend on an annualized basis and a yield of 1.06%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25.

Franklin Electric has raised its dividend by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 21 years. Franklin Electric has a payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.2%.

Franklin Electric Trading Up 1.2 %

NASDAQ:FELE opened at $99.73 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric has a 52 week low of $91.67 and a 52 week high of $111.94. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.93 and a beta of 1.00. The company’s 50 day moving average price is $101.73 and its 200-day moving average price is $101.87.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The firm had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. Franklin Electric’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share. On average, equities research analysts forecast that Franklin Electric will post 3.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s 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 transaction, the insider now owns 9,032 shares in the company, valued at $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.72% of the stock is currently owned by company insiders.

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.