Franklin Electric Co., Inc. (FELE) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Franklin Electric Co., Inc. (NASDAQ:FELE) from a buy rating to a hold rating in a research report released on Friday.

According to Zacks, “Franklin Electric Company is the world’s largest manufacturer of submersible electric motors and a leading producer of engineered specialty electric motor products and electronic controls used by original equipment manufacturers around the world, in a wide variety of residential, industrial and municipal applications. The principal application for Franklin’s submersible electric motors is for water well pumping systems. “

A number of other equities research analysts have also issued reports on FELE. Robert W. Baird reiterated a hold rating and set a $45.00 target price on shares of Franklin Electric Co. in a report on Wednesday, October 4th. Boenning Scattergood reiterated an outperform rating and set a $52.00 target price (up from $44.00) on shares of Franklin Electric Co. in a report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Franklin Electric Co. from a buy rating to a hold rating in a report on Tuesday, July 25th.

Franklin Electric Co. (NASDAQ:FELE) opened at 44.85 on Friday. The company has a market cap of $2.09 billion, a P/E ratio of 24.37 and a beta of 1.62. The company has a 50-day moving average of $41.37 and a 200-day moving average of $40.67. Franklin Electric Co. has a 52 week low of $34.75 and a 52 week high of $46.95.

Franklin Electric Co. (NASDAQ:FELE) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The company 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 firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, equities research analysts predict that Franklin Electric Co. will post $1.92 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Franklin Electric Co., Inc. (FELE) Rating Lowered to Hold at Zacks Investment Research” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/10/franklin-electric-co-inc-fele-rating-lowered-to-hold-at-zacks-investment-research.html.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Franklin Electric Co. by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Franklin Electric Co. by 8.0% in the 1st quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 196 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Franklin Electric Co. by 13.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 347 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Franklin Electric Co. by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 116 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Franklin Electric Co. in the 1st quarter valued at $171,000. Institutional investors and hedge funds own 77.00% of the company’s stock.

Franklin Electric Co. Company 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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According to Zacks, “Franklin Electric Company is the world’s largest manufacturer of submersible electric motors and a leading producer of engineered specialty electric motor products and electronic controls used by original equipment manufacturers around the world, in a wide variety of residential, industrial and municipal applications. The principal application for Franklin’s submersible electric motors is for water well pumping systems. “

A number of other equities research analysts have also issued reports on FELE. Robert W. Baird reiterated a hold rating and set a $45.00 target price on shares of Franklin Electric Co. in a report on Wednesday, October 4th. Boenning Scattergood reiterated an outperform rating and set a $52.00 target price (up from $44.00) on shares of Franklin Electric Co. in a report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Franklin Electric Co. from a buy rating to a hold rating in a report on Tuesday, July 25th.

Franklin Electric Co. (NASDAQ:FELE) opened at 44.85 on Friday. The company has a market cap of $2.09 billion, a P/E ratio of 24.37 and a beta of 1.62. The company has a 50-day moving average of $41.37 and a 200-day moving average of $40.67. Franklin Electric Co. has a 52 week low of $34.75 and a 52 week high of $46.95.

Franklin Electric Co. (NASDAQ:FELE) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The company 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 firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, equities research analysts predict that Franklin Electric Co. will post $1.92 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Franklin Electric Co., Inc. (FELE) Rating Lowered to Hold at Zacks Investment Research” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/10/franklin-electric-co-inc-fele-rating-lowered-to-hold-at-zacks-investment-research.html.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Franklin Electric Co. by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Franklin Electric Co. by 8.0% in the 1st quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 196 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Franklin Electric Co. by 13.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 347 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Franklin Electric Co. by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 116 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Franklin Electric Co. in the 1st quarter valued at $171,000. Institutional investors and hedge funds own 77.00% of the company’s stock.

Franklin Electric Co. Company 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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