State Street Corp Has $223.28 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

State Street Corp trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,130,102 shares of the industrial products company's stock after selling 75,928 shares during the period. State Street Corp owned approximately 4.66% of Franklin Electric worth $223,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its position in shares of Franklin Electric by 7.1% in the third quarter. Quantinno Capital Management LP now owns 3,734 shares of the industrial products company's stock worth $391,000 after acquiring an additional 248 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Franklin Electric in the 3rd quarter valued at $77,000. Janus Henderson Group PLC raised its position in Franklin Electric by 2.3% in the third quarter. Janus Henderson Group PLC now owns 76,131 shares of the industrial products company's stock valued at $7,980,000 after purchasing an additional 1,746 shares during the period. HighTower Advisors LLC lifted its stake in shares of Franklin Electric by 4.9% during the third quarter. HighTower Advisors LLC now owns 5,165 shares of the industrial products company's stock worth $539,000 after purchasing an additional 241 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in shares of Franklin Electric by 13.4% in the third quarter. Holocene Advisors LP now owns 22,594 shares of the industrial products company's stock worth $2,368,000 after buying an additional 2,673 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Stock Down 1.0 %

Shares of Franklin Electric stock traded down $1.12 on Thursday, hitting $106.24. 31,170 shares of the company's stock traded hands, compared to its average volume of 175,173. The stock has a market cap of $4.85 billion, a P/E ratio of 27.18, a PEG ratio of 2.33 and a beta of 0.98. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 52-week low of $90.79 and a 52-week high of $111.94. The firm's 50-day moving average is $105.13 and its 200 day moving average is $101.39.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS 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 during the quarter, compared to analyst estimates of $551.08 million. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. Equities analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.94%. Franklin Electric's dividend payout ratio is presently 25.32%.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 9,032 shares of the company's stock, valued at approximately $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th.

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.