Summit Investment Advisors Inc. Buys 150 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Summit Investment Advisors Inc. grew its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,739 shares of the industrial products company’s stock after purchasing an additional 150 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Franklin Electric were worth $462,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FELE. Vanguard Group Inc. boosted its holdings in Franklin Electric by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,769,582 shares of the industrial products company’s stock worth $464,796,000 after purchasing an additional 45,174 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock worth $79,098,000 after buying an additional 143,917 shares during the last quarter. Norges Bank bought a new position in shares of Franklin Electric in the fourth quarter valued at approximately $56,968,000. Charles Schwab Investment Management Inc. increased its position in shares of Franklin Electric by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company’s stock valued at $49,093,000 after acquiring an additional 10,580 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Franklin Electric by 7.3% during the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock worth $40,459,000 after acquiring an additional 28,121 shares during the period. Institutional investors own 79.98% of the company’s stock.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.72% of the stock is owned by company insiders.

Franklin Electric Stock Down 0.7 %

Shares of NASDAQ:FELE opened at $86.61 on Friday. Franklin Electric Co., Inc. has a 1 year low of $82.69 and a 1 year high of $111.94. The company has a market capitalization of $3.97 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The business has a fifty day moving average price of $96.69 and a two-hundred day moving average price of $100.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. Analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s payout ratio is 27.53%.

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.