Franklin Electric Co., Inc. (NASDAQ:FELE) Declares Quarterly Dividend of $0.27

Franklin Electric Co., Inc. (NASDAQ:FELE) declared a quarterly dividend on Monday, January 27th,RTT News reports. Stockholders of record on Thursday, February 6th will be given a dividend of 0.265 per share by the industrial products company on Thursday, February 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25.

Franklin Electric has increased its dividend payment by an average of 12.6% per year over the last three years and has increased its dividend every year for the last 21 years. Franklin Electric has a dividend payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Franklin Electric to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.2%.

Franklin Electric Trading Up 1.2 %

FELE opened at $99.73 on Tuesday. Franklin Electric has a 52 week low of $91.67 and a 52 week high of $111.94. The stock’s fifty day moving average is $101.73 and its two-hundred day moving average is $101.87. The company has a market capitalization of $4.56 billion, a P/E ratio of 25.25, a PEG ratio of 1.93 and a beta of 1.00. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. Analysts forecast that Franklin Electric will post 3.81 earnings per share for the current year.

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now owns 9,032 shares in the company, valued at $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Company 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.