State of New Jersey Common Pension Fund D Purchases 2,212 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

State of New Jersey Common Pension Fund D raised its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 28,551 shares of the industrial products company’s stock after acquiring an additional 2,212 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Franklin Electric worth $2,759,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Franklin Electric in the 4th quarter worth about $26,000. VisionPoint Advisory Group LLC bought a new stake in Franklin Electric during the 3rd quarter worth approximately $37,000. Signaturefd LLC raised its stake in shares of Franklin Electric by 35.3% in the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 141 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of 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 valued at $103,000 after purchasing an additional 374 shares in the last quarter. Finally, abrdn plc purchased a new position in shares of Franklin Electric during the fourth quarter valued at approximately $200,000. Institutional investors own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

FELE has been the subject of a number of analyst reports. Robert W. Baird increased their price target on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. StockNews.com downgraded shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 14th. Finally, Northcoast Research raised shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Franklin Electric Stock Up 0.5 %

FELE stock opened at $103.24 on Tuesday. The stock has a market cap of $4.75 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.98 and a beta of 0.96. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $102.41 and its two-hundred day simple moving average is $95.80. Franklin Electric Co., Inc. has a 1-year low of $82.61 and a 1-year high of $107.89.

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

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.97%. Franklin Electric’s dividend payout ratio (DPR) is presently 24.33%.

Insider Activity at Franklin Electric

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the sale, the chief executive officer now directly owns 154,993 shares of the company’s stock, valued at $15,493,100.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is owned by company insiders.

Franklin Electric Company Profile

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.