Running Oak Capital LLC Reduces Stock Holdings in Franklin Electric Co., Inc. $FELE

Running Oak Capital LLC lessened its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,216 shares of the industrial products company’s stock after selling 6,069 shares during the quarter. Franklin Electric comprises about 1.8% of Running Oak Capital LLC’s holdings, making the stock its 27th biggest holding. Running Oak Capital LLC owned 0.39% of Franklin Electric worth $16,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in 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 acquiring an additional 1,796 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Franklin Electric by 105.5% during the first quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company’s stock worth $2,390,000 after purchasing an additional 13,075 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of 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 purchasing an additional 1,349 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of 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% in 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 during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FELE. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a research note on Monday, December 29th. Robert W. Baird set a $112.00 target price on shares of Franklin Electric in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $112.00.

Franklin Electric Price Performance

Franklin Electric stock opened at $102.07 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.12. The business has a 50 day simple moving average of $97.85 and a 200-day simple moving average of $96.07. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $108.08. The stock has a market capitalization of $4.54 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08.

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, February 5th. Franklin Electric’s dividend payout ratio (DPR) is presently 34.53%.

Franklin Electric Profile

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.