State of Tennessee Department of Treasury Trims Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

State of Tennessee Department of Treasury reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 20.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,013 shares of the industrial products company's stock after selling 4,719 shares during the period. State of Tennessee Department of Treasury's holdings in Franklin Electric were worth $1,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its position in Franklin Electric by 237.3% during the third quarter. Barclays PLC now owns 87,620 shares of the industrial products company's stock valued at $9,184,000 after acquiring an additional 61,640 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Franklin Electric by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 13,518 shares of the industrial products company's stock valued at $1,417,000 after purchasing an additional 1,502 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Franklin Electric by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company's stock valued at $1,076,000 after purchasing an additional 914 shares during the period. JPMorgan Chase & Co. boosted its holdings in Franklin Electric by 26.1% during the third quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company's stock worth $16,174,000 after buying an additional 31,937 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Franklin Electric by 14.5% during the fourth quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company's stock valued at $136,000 after buying an additional 177 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Price Performance

FELE traded up $0.33 during midday trading on Monday, hitting $88.68. 24,027 shares of the company traded hands, compared to its average volume of 263,146. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.11 and a beta of 1.02. The business has a 50 day simple moving average of $93.47 and a two-hundred day simple moving average of $99.04. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). The firm had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.20%. Franklin Electric's dividend payout ratio (DPR) is presently 27.75%.

Insider Buying and Selling

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now directly owns 7,701 shares of the company's stock, valued at $794,281.14. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FELE shares. Robert W. Baird dropped their target price on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. StockNews.com lowered Franklin Electric from a "buy" rating to a "hold" rating in a report on Thursday.

Franklin Electric 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.