21,803 Shares in Franklin Electric Co., Inc. $FELE Acquired by OLD National Bancorp IN

OLD National Bancorp IN bought a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,803 shares of the industrial products company’s stock, valued at approximately $2,010,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Franklin Electric by 81.6% in the first quarter. Royal Bank of Canada now owns 3,997 shares of the industrial products company’s stock valued at $375,000 after buying an additional 1,796 shares during the period. AQR Capital Management LLC raised its position in Franklin Electric by 105.5% in the first quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company’s stock worth $2,390,000 after acquiring an additional 13,075 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Franklin Electric by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,760 shares of the industrial products company’s stock valued at $541,000 after acquiring an additional 1,349 shares during the last quarter. United Services Automobile Association acquired a new stake in Franklin Electric in the 1st quarter valued at about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Franklin Electric by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company’s stock valued at $12,877,000 after purchasing an additional 10,862 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the transaction, the insider owned 10,402 shares of the company’s stock, valued at $1,040,200. The trade was a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jonathan M. Grandon sold 8,547 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the transaction, the insider owned 7,509 shares in the company, valued at $776,430.60. This represents a 53.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,835 shares of company stock worth $2,004,982 in the last quarter. 2.89% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on FELE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a report on Tuesday, June 9th. DA Davidson restated a “neutral” rating and issued a $100.00 price target on shares of Franklin Electric in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $106.00.

Franklin Electric Stock Performance

Shares of FELE opened at $107.89 on Friday. The company has a 50-day moving average of $100.68 and a two-hundred day moving average of $98.93. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.96 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.67 and a quick ratio of 1.14. Franklin Electric Co., Inc. has a one year low of $88.63 and a one year high of $111.53.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $500.44 million for the quarter, compared to analyst estimates of $479.21 million. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. On average, equities research analysts expect that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, May 7th. Franklin Electric’s dividend payout ratio (DPR) is 33.73%.

About Franklin Electric

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.