New York State Teachers Retirement System Has $2.03 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

New York State Teachers Retirement System cut its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,315 shares of the industrial products company’s stock after selling 400 shares during the quarter. New York State Teachers Retirement System’s holdings in Franklin Electric were worth $2,025,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 107 shares during the period. ORG Partners LLC acquired a new stake in Franklin Electric during the 2nd quarter worth about $36,000. CWM LLC boosted its position in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 98 shares during the period. USA Financial Formulas acquired a new stake in Franklin Electric during the 3rd quarter worth about $74,000. Finally, Signaturefd LLC boosted its position in Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 164 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Stock Down 0.6 %

FELE opened at $107.80 on Friday. Franklin Electric Co., Inc. has a fifty-two week low of $86.13 and a fifty-two week high of $110.97. The business has a 50-day moving average of $101.88 and a 200-day moving average of $100.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The company has a market capitalization of $4.93 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.16 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same period last year, the business earned $1.23 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Insider Activity at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

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.