State of Tennessee Treasury Department Sells 2,138 Shares of Franklin Electric Co., Inc. (FELE)
State of Tennessee Treasury Department reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,822 shares of the industrial products company’s stock after selling 2,138 shares during the period. State of Tennessee Treasury Department owned approximately 0.07% of Franklin Electric Co. worth $1,517,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in Franklin Electric Co. by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 281 shares in the last quarter. Advisor Group Inc. increased its position in Franklin Electric Co. by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after buying an additional 116 shares during the period. Victory Capital Management Inc. increased its position in Franklin Electric Co. by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock worth $142,000 after buying an additional 512 shares during the period. Amalgamated Bank increased its position in shares of Franklin Electric Co. by 4.9% during the second quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares during the period. Finally, Parametrica Management Ltd bought a new stake in shares of Franklin Electric Co. during the third quarter valued at approximately $279,000. 78.82% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Donald P. Kenney sold 4,754 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $45.00, for a total transaction of $213,930.00. Following the transaction, the vice president now directly owns 19,129 shares of the company’s stock, valued at $860,805. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.54% of the stock is currently owned by company insiders.
Franklin Electric Co., Inc. (NASDAQ:FELE) opened at $45.65 on Wednesday. Franklin Electric Co., Inc. has a twelve month low of $36.00 and a twelve month high of $46.95. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2,087.53, a P/E ratio of 24.61 and a beta of 1.62.
Franklin Electric Co. (NASDAQ:FELE) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $311.11 million for the quarter, compared to analysts’ expectations of $317.54 million. Franklin Electric Co. had a return on equity of 13.09% and a net margin of 8.13%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. analysts anticipate that Franklin Electric Co., Inc. will post 1.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were paid a dividend of $0.1075 per share. The ex-dividend date of this dividend was Wednesday, November 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.94%. Franklin Electric Co.’s dividend payout ratio (DPR) is currently 23.12%.
FELE has been the topic of several research reports. Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price target on shares of Franklin Electric Co. in a research note on Wednesday, October 4th. Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric Co. in a research note on Wednesday, October 25th. Zacks Investment Research downgraded Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Boenning Scattergood restated a “buy” rating on shares of Franklin Electric Co. in a research note on Tuesday, October 24th. Finally, BidaskClub lowered Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Franklin Electric Co. has an average rating of “Hold” and a consensus target price of $49.33.
Franklin Electric Co. Company Profile
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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