BidaskClub cut shares of Franklin Electric (NASDAQ:FELE) from a sell rating to a strong sell rating in a research report released on Wednesday morning.

Several other analysts have also recently issued reports on FELE. Zacks Investment Research cut shares of Franklin Electric from a buy rating to a hold rating in a research note on Wednesday, January 17th. Seaport Global Securities reissued a neutral rating on shares of Franklin Electric in a research note on Wednesday, October 25th. Robert W. Baird boosted their price objective on shares of Franklin Electric from $45.00 to $47.00 and gave the company a neutral rating in a research note on Wednesday, October 25th. Finally, Boenning Scattergood reissued a buy rating on shares of Franklin Electric in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Franklin Electric has an average rating of Hold and a consensus price target of $50.00.

Shares of Franklin Electric (NASDAQ:FELE) opened at $44.70 on Wednesday. Franklin Electric has a 12 month low of $36.00 and a 12 month high of $47.20. The stock has a market cap of $2,120.15, a price-to-earnings ratio of 24.03 and a beta of 1.53. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be issued a dividend of $0.108 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.43 annualized dividend and a dividend yield of 0.97%. Franklin Electric’s payout ratio is 23.12%.

Several large investors have recently bought and sold shares of FELE. Channing Capital Management LLC acquired a new position in shares of Franklin Electric during the 3rd quarter valued at $30,888,000. First Merchants Corp acquired a new position in shares of Franklin Electric during the 3rd quarter valued at $21,739,000. Impax Asset Management LTD lifted its holdings in shares of Franklin Electric by 18.7% during the 3rd quarter. Impax Asset Management LTD now owns 1,816,445 shares of the industrial products company’s stock valued at $81,468,000 after acquiring an additional 285,940 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Franklin Electric by 8.3% during the 2nd quarter. Earnest Partners LLC now owns 2,248,817 shares of the industrial products company’s stock valued at $93,101,000 after acquiring an additional 172,872 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Franklin Electric during the 4th quarter valued at $3,727,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

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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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