Franklin Electric (NASDAQ:FELE) Hits New 12-Month High – Here’s Why

Franklin Electric Co., Inc. (NASDAQ:FELE) shares hit a new 52-week high during trading on Monday . The stock traded as high as $108.72 and last traded at $107.1850, with a volume of 5023 shares traded. The stock had previously closed at $107.55.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FELE. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 29th. Robert W. Baird set a $112.00 target price on shares of Franklin Electric in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.00.

Franklin Electric Price Performance

The stock has a market capitalization of $4.82 billion, a P/E ratio of 35.31, a PEG ratio of 1.91 and a beta of 1.08. The business has a fifty day simple moving average of $99.12 and a 200-day simple moving average of $96.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.54.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a $0.28 dividend. The ex-dividend date is Thursday, February 5th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. Franklin Electric’s dividend payout ratio is 36.48%.

Hedge Funds Weigh In On Franklin Electric

A number of institutional investors and hedge funds have recently made changes to their positions in FELE. Oregon Public Employees Retirement Fund boosted its holdings in Franklin Electric by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company’s stock worth $833,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 101 shares in the last quarter. Fortress Financial Solutions LLC increased its stake in Franklin Electric by 2.5% during the 2nd quarter. Fortress Financial Solutions LLC now owns 4,546 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 110 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Franklin Electric by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,885 shares of the industrial products company’s stock worth $787,000 after buying an additional 111 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Franklin Electric by 10.2% in the third quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock valued at $118,000 after buying an additional 114 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world?leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.