BidaskClub upgraded shares of Franklin Electric (NASDAQ:FELE) from a sell rating to a hold rating in a report issued on Wednesday, January 3rd.

Other equities research analysts have also recently issued research reports about the stock. Boenning Scattergood reaffirmed a buy rating on shares of Franklin Electric in a report on Tuesday, October 24th. Seaport Global Securities reissued a neutral rating on shares of Franklin Electric in a report on Wednesday, October 25th. Robert W. Baird boosted their target price on shares of Franklin Electric from $45.00 to $47.00 and gave the company a neutral rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised shares of Franklin Electric from a hold rating to a buy rating and set a $49.00 target price on the stock in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $50.00.

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Franklin Electric (NASDAQ:FELE) traded up $0.05 during trading hours on Wednesday, hitting $45.00. 11,480 shares of the company were exchanged, compared to its average volume of 109,738. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.35 and a quick ratio of 1.13. The company has a market cap of $2,138.79, a PE ratio of 25.22 and a beta of 1.62. Franklin Electric has a 52 week low of $36.00 and a 52 week high of $47.20.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a $0.108 dividend. The ex-dividend date is Wednesday, January 31st. This represents a $0.43 annualized dividend and a dividend yield of 0.96%. Franklin Electric’s payout ratio is currently 23.12%.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Franklin Electric by 1.1% in the second quarter. Vanguard Group Inc. now owns 3,897,548 shares of the industrial products company’s stock worth $161,359,000 after purchasing an additional 41,940 shares during the period. Earnest Partners LLC increased its holdings in shares of Franklin Electric by 1.9% in the third quarter. Earnest Partners LLC now owns 2,291,853 shares of the industrial products company’s stock worth $102,790,000 after purchasing an additional 43,036 shares during the period. Impax Asset Management LTD increased its holdings in shares of Franklin Electric by 18.7% in the third quarter. Impax Asset Management LTD now owns 1,816,445 shares of the industrial products company’s stock worth $81,468,000 after purchasing an additional 285,940 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Franklin Electric by 4.7% in the second quarter. Wells Fargo & Company MN now owns 1,700,634 shares of the industrial products company’s stock worth $70,406,000 after purchasing an additional 76,710 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Franklin Electric by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,629,982 shares of the industrial products company’s stock worth $73,105,000 after acquiring an additional 35,564 shares in the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

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About Franklin Electric

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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