Marks Group Wealth Management Inc Has $7.69 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Marks Group Wealth Management Inc trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,929 shares of the industrial products company’s stock after selling 2,568 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Franklin Electric were worth $7,692,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortress Financial Solutions LLC acquired a new position in Franklin Electric in the 4th quarter valued at $390,000. Entropy Technologies LP bought a new position in shares of Franklin Electric in the fourth quarter worth $535,000. GHP Investment Advisors Inc. raised its stake in Franklin Electric by 5.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 62,165 shares of the industrial products company’s stock valued at $6,058,000 after purchasing an additional 2,939 shares in the last quarter. Longboard Asset Management LP bought a new stake in Franklin Electric during the fourth quarter worth about $200,000. Finally, Spire Wealth Management bought a new stake in Franklin Electric during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

Franklin Electric Trading Up 0.0 %

Shares of FELE stock opened at $101.50 on Wednesday. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The stock’s fifty day moving average price is $100.08 and its two-hundred day moving average price is $101.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The company has a market cap of $4.64 billion, a PE ratio of 25.70, a P/E/G ratio of 1.97 and a beta of 1.00.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a $0.265 dividend. The ex-dividend date is Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.04%. Franklin Electric’s dividend payout ratio (DPR) is 26.84%.

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.