Teacher Retirement System of Texas reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,286 shares of the industrial products company's stock after selling 7,711 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.15% of Franklin Electric worth $6,557,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Franklin Electric by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company's stock worth $105,264,000 after purchasing an additional 9,170 shares during the period. Allianz Asset Management GmbH lifted its holdings in Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after acquiring an additional 143,917 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Franklin Electric by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock valued at $49,093,000 after acquiring an additional 10,580 shares during the period. KBC Group NV raised its position in shares of Franklin Electric by 7.3% during the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after purchasing an additional 28,121 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Franklin Electric by 15.9% during the 4th quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company's stock valued at $38,208,000 after purchasing an additional 53,825 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.
Franklin Electric Stock Performance
NASDAQ FELE traded down $0.77 during trading hours on Thursday, hitting $97.20. The company had a trading volume of 178,057 shares, compared to its average volume of 172,351. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.45 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The business has a fifty day simple moving average of $100.42 and a 200-day simple moving average of $101.77.
Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The firm had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Equities analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.
Franklin Electric Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's payout ratio is 27.53%.
Insider Transactions at Franklin Electric
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the transaction, the insider now directly owns 7,701 shares of the company's stock, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.72% of the company's stock.
Franklin Electric Profile
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Free Report)
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.
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