Arizona State Retirement System Has $1.06 Million Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Arizona State Retirement System cut its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,992 shares of the industrial products company’s stock after selling 187 shares during the period. Arizona State Retirement System’s holdings in Franklin Electric were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Trust Point Inc. acquired a new stake in Franklin Electric in the fourth quarter worth $729,000. Fenimore Asset Management Inc. raised its holdings in Franklin Electric by 0.6% in the fourth quarter. Fenimore Asset Management Inc. now owns 143,345 shares of the industrial products company’s stock worth $13,854,000 after purchasing an additional 920 shares during the period. Global Retirement Partners LLC raised its holdings in Franklin Electric by 51.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,094 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 374 shares during the period. Pacer Advisors Inc. acquired a new stake in Franklin Electric in the fourth quarter worth $26,000. Finally, OneAscent Financial Services LLC acquired a new stake in Franklin Electric in the fourth quarter worth $206,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gregg C. Sengstack sold 10,366 shares of Franklin Electric stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the transaction, the chief executive officer now owns 154,993 shares of the company’s stock, valued at approximately $15,493,100.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on FELE. StockNews.com lowered shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 14th. Northcoast Research upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Friday, February 23rd. Finally, Robert W. Baird raised their price objective on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Franklin Electric Stock Down 0.1 %

Shares of FELE stock opened at $100.39 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $107.89. The firm’s fifty day moving average price is $101.58 and its two-hundred day moving average price is $94.85. The firm has a market capitalization of $4.62 billion, a P/E ratio of 24.43, a PEG ratio of 1.94 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The business had revenue of $472.97 million during the quarter, compared to analyst estimates of $490.47 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities analysts predict that Franklin Electric Co., Inc. will post 4.32 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a $0.25 dividend. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, January 31st. Franklin Electric’s payout ratio is presently 24.33%.

About Franklin Electric

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.