Teacher Retirement System of Texas Sells 5,261 Shares of Franklin Electric Co., Inc. $FELE

Teacher Retirement System of Texas lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,637 shares of the industrial products company’s stock after selling 5,261 shares during the period. Teacher Retirement System of Texas’ holdings in Franklin Electric were worth $5,582,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FELE. EverSource Wealth Advisors LLC raised its stake in shares of Franklin Electric by 31.2% during the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 101 shares during the last quarter. MAI Capital Management increased its holdings in Franklin Electric by 36.5% during the 2nd quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 131 shares during the period. Osaic Holdings Inc. increased its holdings in Franklin Electric by 24.3% during the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 119 shares during the period. Covestor Ltd raised its position in Franklin Electric by 24.6% during the 3rd quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 185 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Franklin Electric by 10.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock worth $118,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

FELE has been the topic of several research analyst reports. Robert W. Baird set a $112.00 target price on Franklin Electric in a research note on Wednesday, October 29th. Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Franklin Electric has an average rating of “Hold” and a consensus target price of $112.00.

Franklin Electric Trading Up 0.2%

NASDAQ FELE opened at $100.41 on Tuesday. The firm has a market capitalization of $4.47 billion, a PE ratio of 32.71, a P/E/G ratio of 1.77 and a beta of 1.08. The stock’s 50 day moving average is $97.04 and its 200 day moving average is $95.76. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $108.08. The company has a quick ratio of 1.12, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.01. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The business had revenue of $581.71 million during the quarter, compared to the consensus estimate of $563.18 million. During the same quarter in the prior year, the company earned $1.17 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be given a dividend of $0.28 per share. This is an increase from Franklin Electric’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s dividend payout ratio is 34.53%.

Franklin Electric Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.