State of New Jersey Common Pension Fund D Trims Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

State of New Jersey Common Pension Fund D lessened its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,308 shares of the industrial products company’s stock after selling 9,243 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Franklin Electric were worth $1,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Securities Inc. bought a new position in shares of Franklin Electric during the 4th quarter valued at approximately $33,000. GAMMA Investing LLC boosted its position in shares of Franklin Electric by 88.0% in the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 147 shares during the period. ORG Partners LLC purchased a new stake in shares of Franklin Electric in the second quarter worth $36,000. TFO Wealth Partners LLC increased its stake in shares of Franklin Electric by 121,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 1,214 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Franklin Electric during the 4th quarter valued at $147,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

NASDAQ:FELE opened at $102.29 on Monday. The business’s 50-day simple moving average is $100.54 and its two-hundred day simple moving average is $100.10. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $108.39. The stock has a market cap of $4.71 billion, a PE ratio of 25.45, a P/E/G ratio of 1.88 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The company had revenue of $543.30 million for the quarter, compared to the consensus estimate of $570.80 million. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, analysts forecast that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $104.57, for a total value of $1,473,391.30. Following the sale, the insider now owns 16,927 shares in the company, valued at $1,770,056.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $103.87, for a total transaction of $519,350.00. Following the completion of the sale, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $104.57, for a total value of $1,473,391.30. Following the completion of the transaction, the insider now owns 16,927 shares in the company, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,486 shares of company stock worth $2,568,171. Insiders own 2.72% of the company’s stock.

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.