Illinois Municipal Retirement Fund Has $2.17 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Illinois Municipal Retirement Fund cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,409 shares of the industrial products company’s stock after selling 639 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Franklin Electric were worth $2,166,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Franklin Electric by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,656,427 shares of the industrial products company’s stock valued at $415,493,000 after buying an additional 17,092 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Franklin Electric by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,961,273 shares of the industrial products company’s stock valued at $189,557,000 after buying an additional 5,915 shares during the period. Invesco Ltd. lifted its position in shares of Franklin Electric by 6.2% in the third quarter. Invesco Ltd. now owns 615,008 shares of the industrial products company’s stock valued at $54,877,000 after buying an additional 36,114 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Franklin Electric by 0.7% during the 3rd quarter. Northern Trust Corp now owns 512,762 shares of the industrial products company’s stock worth $45,754,000 after buying an additional 3,433 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings in Franklin Electric by 1.3% during the 4th quarter. Boston Trust Walden Corp now owns 505,303 shares of the industrial products company’s stock worth $48,838,000 after purchasing an additional 6,662 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Franklin Electric

In other news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the transaction, the chief executive officer now owns 154,993 shares in the company, valued at approximately $15,493,100.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is owned by company insiders.

Franklin Electric Trading Down 0.3 %

Shares of FELE opened at $102.54 on Friday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.99 and a beta of 0.96. Franklin Electric Co., Inc. has a 52-week low of $82.61 and a 52-week high of $107.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.97. The business’s fifty day moving average is $102.30 and its 200-day moving average is $95.53.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $472.97 million during the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Equities analysts anticipate that Franklin Electric Co., Inc. will post 4.32 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, May 1st. Franklin Electric’s payout ratio is 24.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FELE shares. Northcoast Research upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Friday, February 23rd. StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 14th. Finally, Robert W. Baird raised their price target on Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.