Teachers Retirement System of The State of Kentucky lowered its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 12.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,556 shares of the industrial products company’s stock after selling 1,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Franklin Electric were worth $546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FELE. Dynamic Technology Lab Private Ltd acquired a new stake in Franklin Electric during the second quarter worth approximately $345,000. Cim Investment Mangement Inc. purchased a new stake in shares of Franklin Electric during the 2nd quarter worth $357,000. Victory Capital Management Inc. boosted its position in shares of Franklin Electric by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock worth $365,000 after purchasing an additional 1,108 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Franklin Electric during the 2nd quarter worth $368,000. Finally, Stone Ridge Asset Management LLC boosted its position in shares of Franklin Electric by 29.6% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 9,005 shares of the industrial products company’s stock worth $425,000 after buying an additional 2,058 shares in the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.

In other Franklin Electric news, VP John J. Haines sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $45.25, for a total transaction of $90,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven William Aikman sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $50.21, for a total value of $75,315.00. Following the sale, the vice president now owns 16,515 shares of the company’s stock, valued at $829,218.15. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by company insiders.

NASDAQ FELE opened at $41.91 on Friday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.25 and a beta of 1.55. Franklin Electric Co. has a fifty-two week low of $38.45 and a fifty-two week high of $51.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.22 and a quick ratio of 1.00.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Friday, October 26th. The industrial products company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). Franklin Electric had a net margin of 7.07% and a return on equity of 14.22%. The business had revenue of $341.87 million for the quarter, compared to analysts’ expectations of $342.18 million. During the same quarter last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Franklin Electric Co. will post 2.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 31st. Franklin Electric’s dividend payout ratio (DPR) is 25.00%.

Several brokerages recently weighed in on FELE. BidaskClub downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Zacks Investment Research downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Finally, ValuEngine downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $48.80.

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Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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