Illinois Municipal Retirement Fund Sells 1,356 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Illinois Municipal Retirement Fund lessened its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,013 shares of the industrial products company’s stock after selling 1,356 shares during the period. Illinois Municipal Retirement Fund’s holdings in Franklin Electric were worth $2,048,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its stake 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 purchasing an additional 107 shares in the last quarter. Spire Wealth Management acquired a new position in Franklin Electric during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new position in Franklin Electric during the fourth quarter worth $40,000. Point72 DIFC Ltd bought a new stake in Franklin Electric during the third quarter worth $77,000. Finally, Covestor Ltd lifted its stake in Franklin Electric by 15.6% in the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 103 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Up 0.9 %

Franklin Electric stock opened at $102.15 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The company’s 50-day moving average is $99.40 and its 200-day moving average is $101.85. The firm has a market capitalization of $4.67 billion, a PE ratio of 26.53, a P/E/G ratio of 2.11 and a beta of 1.00. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.04%. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

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.