In a recent transaction on May 9, Delancey W. Davis, President of Headwater Companies, a subsidiary of Franklin Electric Co. Inc. (NASDAQ:FELE), sold 2,214 shares of the company's common stock at a price of $102.06 per share. This sale resulted in a total transaction value of approximately $225,960.
On the same day, records also indicate transactions involving the acquisition of shares. Davis exercised options to acquire 2,889 shares of Franklin Electric stock at a price of $73.14 per share, amounting to a total transaction value of $211,301. Additionally, a corresponding amount of shares was disposed of to cover tax liabilities associated with the option exercise, at the same price per share of $102.06, totaling approximately $294,851.
These transactions have adjusted Davis's holdings in Franklin Electric, with the latest filings indicating a total of 8,014 shares owned following the reported activities. It's noteworthy that the disclosed ownership includes 1,499 restricted stock units vesting on February 22, 2027, 1,489 units vesting on February 16, 2026, 1,752 units vesting on February 24, 2025, and 3,274 shares owned outright.
Investors and market watchers often monitor insider transactions like these for insights into executive perspectives on the company's performance and value. Franklin Electric Co. Inc., known for its manufacture of systems and components for the movement of water and automotive fuels, remains a key player in its industry.
The transactions were made public through the SEC Form 4 filing, with Davis signing off on the document on May 10, 2024.
InvestingPro Insights
In light of the recent insider transactions at Franklin Electric Co. Inc. (NASDAQ:FELE), it's essential to consider the company's financial health and market performance for a comprehensive understanding of its prospects. Here are some key insights derived from InvestingPro data and tips that may be of interest to investors:
The company boasts a robust Market Cap of approximately $4.71 billion, reflecting its significant presence in the industry. Additionally, the P/E Ratio stands at 25.06, with a slight adjustment to 24.91 when considering the last twelve months as of Q1 2024. This valuation metric provides a glimpse into what investors are willing to pay for a dollar of earnings and is a cornerstone for many investment decisions.
InvestingPro Tips suggest that Franklin Electric has a commendable track record of raising its dividend, doing so for 32 consecutive years, a testament to its financial stability and commitment to shareholder returns. Moreover, the company's cash flows are reported to be strong enough to cover interest payments comfortably, indicating a healthy financial position.
It's also worth noting that the company operates with a moderate level of debt, which is a reassuring sign for investors wary of high-leverage risks. Furthermore, Franklin Electric's liquid assets exceed its short-term obligations, which could provide a cushion against market volatility or unexpected downturns.
For investors seeking more detailed analysis and additional InvestingPro Tips, there are 6 more tips available on Franklin Electric, which can be accessed through https://www.investing.com/pro/FELE. Utilizing the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more thorough insight into the company's financial nuances and future outlook.
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