Franklin Electric Co. (NASDAQ:FELE) was up 5.5% during trading on Thursday . The company traded as high as $44.89 and last traded at $44.57, approximately 311,500 shares traded hands during mid-day trading. An increase of 29% from the average daily volume of 241,113 shares. The stock had previously closed at $42.24.
A number of research analysts recently commented on FELE shares. BidaskClub lowered Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday, January 25th. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, DA Davidson upgraded Franklin Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $60.00 in a research report on Monday, March 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $56.00.
The business has a 50-day simple moving average of $51.97 and a two-hundred day simple moving average of $53.52. The stock has a market capitalization of $2.19 billion, a P/E ratio of 21.96 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.14.
In other news, insider Delancey W. Davis sold 10,546 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $57.69, for a total transaction of $608,398.74. Following the sale, the insider now owns 21,023 shares in the company, valued at $1,212,816.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 3,469 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $55.00, for a total value of $190,795.00. Following the sale, the insider now owns 21,256 shares in the company, valued at approximately $1,169,080. The disclosure for this sale can be found here. 2.88% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of FELE. Penserra Capital Management LLC bought a new position in Franklin Electric in the fourth quarter valued at about $28,000. Citizens Financial Group Inc RI bought a new position in Franklin Electric in the fourth quarter valued at about $32,000. Evoke Wealth LLC bought a new position in Franklin Electric in the third quarter valued at about $33,000. Advisory Alpha LLC boosted its holdings in Franklin Electric by 50.0% in the fourth quarter. Advisory Alpha LLC now owns 900 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 300 shares during the last quarter. Finally, Great Diamond Partners LLC bought a new position in Franklin Electric in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 79.36% of the company’s stock.
About Franklin Electric (NASDAQ:FELE)
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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