AHL Partners LLP Grows Stake in Franklin Electric Co., Inc. (FELE)

AHL Partners LLP lifted its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 117.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,984 shares of the industrial products company’s stock after buying an additional 13,508 shares during the period. AHL Partners LLP owned approximately 0.05% of Franklin Electric Co. worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Franklin Electric Co. by 145.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 37,253 shares of the industrial products company’s stock worth $1,542,000 after buying an additional 22,099 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Franklin Electric Co. by 2.3% in the 2nd quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock worth $446,000 after buying an additional 238 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Franklin Electric Co. by 13.0% in the 2nd quarter. Voya Investment Management LLC now owns 20,944 shares of the industrial products company’s stock worth $867,000 after buying an additional 2,405 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Franklin Electric Co. by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,594,418 shares of the industrial products company’s stock worth $66,008,000 after buying an additional 18,598 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Franklin Electric Co. by 8.9% in the 2nd quarter. Citadel Advisors LLC now owns 27,792 shares of the industrial products company’s stock worth $1,151,000 after buying an additional 2,264 shares during the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.

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In other news, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the sale, the insider now directly owns 39,392 shares of the company’s stock, valued at $1,772,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.54% of the stock is owned by insiders.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Robert W. Baird restated a “hold” rating and issued a $45.00 price target on shares of Franklin Electric Co. in a research note on Wednesday, October 4th. Boenning Scattergood restated an “outperform” rating on shares of Franklin Electric Co. in a research note on Tuesday, September 5th. Finally, BidaskClub downgraded Franklin Electric Co. from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.

Franklin Electric Co., Inc. (NASDAQ FELE) opened at 45.00 on Monday. Franklin Electric Co., Inc. has a 1-year low of $34.75 and a 1-year high of $46.95. The stock has a 50 day moving average price of $42.24 and a 200-day moving average price of $40.77. The stock has a market capitalization of $2.09 billion, a P/E ratio of 24.46 and a beta of 1.62.

Franklin Electric Co. (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $305.35 million for the quarter, compared to analyst estimates of $310.13 million. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Equities research analysts expect that Franklin Electric Co., Inc. will post $1.92 EPS for the current year.

Franklin Electric Co. Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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Institutional Ownership by Quarter for Franklin Electric Co. (NASDAQ:FELE)

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