Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund lessened its position in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 27,969 shares of the industrial products company’s stock after selling 161 shares during the quarter. Texas Permanent School Fund’s holdings in Franklin Electric were worth $2,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Maryland State Retirement & Pension System increased its stake in Franklin Electric by 0.8% during the 2nd quarter. Maryland State Retirement & Pension System now owns 15,764 shares of the industrial products company’s stock valued at $1,155,000 after buying an additional 124 shares during the period. Brinker Capital Investments LLC increased its stake in Franklin Electric by 4.5% during the 2nd quarter. Brinker Capital Investments LLC now owns 3,807 shares of the industrial products company’s stock valued at $279,000 after buying an additional 164 shares during the period. Victory Capital Management Inc. increased its stake in Franklin Electric by 2.5% during the 2nd quarter. Victory Capital Management Inc. now owns 8,793 shares of the industrial products company’s stock valued at $644,000 after buying an additional 216 shares during the period. American Century Companies Inc. increased its stake in Franklin Electric by 5.5% during the 1st quarter. American Century Companies Inc. now owns 5,458 shares of the industrial products company’s stock valued at $453,000 after buying an additional 285 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Franklin Electric by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 34,374 shares of the industrial products company’s stock valued at $2,928,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 79.38% of the company’s stock.

Insiders Place Their Bets

In other Franklin Electric news, insider Delancey W. Davis sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $84.91, for a total value of $84,910.00. Following the completion of the transaction, the insider now directly owns 9,777 shares in the company, valued at $830,165.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.75.

Franklin Electric Stock Performance

NASDAQ:FELE opened at $81.61 on Tuesday. Franklin Electric Co., Inc. has a twelve month low of $68.27 and a twelve month high of $96.19. The company has a current ratio of 1.92, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $81.43 and a 200-day moving average of $83.26. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 20.51 and a beta of 0.98.

Franklin Electric (NASDAQ:FELEGet Rating) last announced its earnings results on Tuesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.02). Franklin Electric had a return on equity of 18.71% and a net margin of 9.48%. The firm had revenue of $551.67 million during the quarter, compared to analyst estimates of $559.00 million. Analysts forecast that Franklin Electric Co., Inc. will post 4.09 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, November 2nd. Franklin Electric’s payout ratio is 19.60%.

Franklin Electric Company Profile

(Get Rating)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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