State of New Jersey Common Pension Fund D Has $1.94 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

State of New Jersey Common Pension Fund D lifted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,927 shares of the industrial products company’s stock after acquiring an additional 619 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Franklin Electric were worth $1,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares in the last quarter. Spire Wealth Management bought a new position in Franklin Electric during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new stake in Franklin Electric in the fourth quarter worth $40,000. CWM LLC increased its stake in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Franklin Electric by 29.9% in the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE opened at $103.81 on Tuesday. The business’s fifty day moving average is $99.29 and its 200 day moving average is $101.81. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. 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 stock has a market cap of $4.74 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.11 and a beta of 1.00.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $465.87 million. Sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.265 per share. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.02%. Franklin Electric’s payout ratio is presently 27.53%.

Analyst Ratings Changes

Separately, Robert W. Baird reduced their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Franklin Electric Company 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.