OLD National Bancorp IN Sells 570 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

OLD National Bancorp IN decreased its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,021 shares of the industrial products company’s stock after selling 570 shares during the period. OLD National Bancorp IN’s holdings in Franklin Electric were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FELE. KBC Group NV lifted its stake in shares of Franklin Electric by 7.3% in the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock valued at $40,459,000 after purchasing an additional 28,121 shares during the period. Blue Trust Inc. lifted its position in Franklin Electric by 66.2% during the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after buying an additional 198 shares during the period. Running Oak Capital LLC boosted its holdings in shares of Franklin Electric by 5.6% during the 4th quarter. Running Oak Capital LLC now owns 132,264 shares of the industrial products company’s stock valued at $12,889,000 after buying an additional 7,053 shares in the last quarter. Tributary Capital Management LLC grew its position in shares of Franklin Electric by 1.2% in the 4th quarter. Tributary Capital Management LLC now owns 181,123 shares of the industrial products company’s stock worth $17,650,000 after buying an additional 2,212 shares during the period. Finally, Goelzer Investment Management Inc. bought a new position in shares of Franklin Electric in the 4th quarter worth about $688,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now owns 9,032 shares in the company, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.

Franklin Electric Price Performance

FELE opened at $99.99 on Monday. The firm has a market cap of $4.57 billion, a PE ratio of 25.31, a P/E/G ratio of 1.93 and a beta of 1.00. The stock has a 50-day moving average price of $101.03 and a 200-day moving average price of $101.80. Franklin Electric Co., Inc. has a 1 year low of $91.67 and a 1 year high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.06%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

Franklin Electric Profile

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.