Franklin Electric (NASDAQ:FELE) PT Lowered to $105.00

Franklin Electric (NASDAQ:FELE) had its price target dropped by equities researchers at Robert W. Baird from $107.00 to $105.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 9.27% from the company’s current price.

Franklin Electric Trading Down 6.3 %

Shares of Franklin Electric stock opened at $96.09 on Wednesday. The firm has a market capitalization of $4.43 billion, a PE ratio of 23.90, a P/E/G ratio of 2.02 and a beta of 0.95. Franklin Electric has a twelve month low of $84.20 and a twelve month high of $108.39. The firm’s 50-day moving average price is $101.92 and its 200 day moving average price is $100.19. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07.

Institutional Trading of Franklin Electric

A number of hedge funds have recently bought and sold shares of FELE. Janney Montgomery Scott LLC raised its holdings in Franklin Electric by 25.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,035 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 807 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Franklin Electric in the 1st quarter valued at about $821,000. Texas Permanent School Fund Corp raised its holdings in Franklin Electric by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 34,719 shares of the industrial products company’s stock valued at $3,708,000 after acquiring an additional 450 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Franklin Electric by 1.6% during the 1st quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock worth $946,000 after buying an additional 137 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of Franklin Electric by 2.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 22,901 shares of the industrial products company’s stock worth $2,446,000 after buying an additional 492 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

About Franklin Electric

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.