Allianz Asset Management GmbH Has $79.10 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Allianz Asset Management GmbH boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 21.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 811,682 shares of the industrial products company’s stock after acquiring an additional 143,917 shares during the quarter. Allianz Asset Management GmbH’s holdings in Franklin Electric were worth $79,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares in the last quarter. Spire Wealth Management acquired a new position in Franklin Electric during the 4th quarter worth $29,000. Trust Co. of Vermont acquired a new position in Franklin Electric during the 4th quarter worth $40,000. CWM LLC boosted its position in Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Down 1.7 %

Shares of NASDAQ:FELE opened at $104.24 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 2.11 and a beta of 1.00. The company has a 50 day moving average of $99.33 and a 200-day moving average of $101.65. Franklin Electric Co., Inc. has a one year low of $91.67 and a one year high of $111.94.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $485.75 million during the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. On average, sell-side 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 disclosed 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 yield of 1.02%. The ex-dividend date was Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is currently 27.53%.

Analyst Ratings Changes

Separately, Robert W. Baird cut their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note 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.