Texas Permanent School Fund trimmed its holdings in Franklin Electric Co. (NASDAQ:FELE) by 7.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,143 shares of the industrial products company’s stock after selling 2,028 shares during the period. Texas Permanent School Fund’s holdings in Franklin Electric were worth $1,200,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Teachers Advisors LLC raised its holdings in shares of Franklin Electric by 4.5% in the 2nd quarter. Teachers Advisors LLC now owns 83,383 shares of the industrial products company’s stock worth $3,452,000 after purchasing an additional 3,583 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Franklin Electric by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 125,471 shares of the industrial products company’s stock worth $5,194,000 after purchasing an additional 539 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Franklin Electric by 56.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,373 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 3,757 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Franklin Electric by 33.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,208 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 5,571 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Franklin Electric by 2.7% in the 2nd quarter. Northern Trust Corp now owns 607,463 shares of the industrial products company’s stock worth $25,149,000 after purchasing an additional 15,754 shares during the period. 76.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franklin Electric Co. (FELE) opened at $42.65 on Tuesday. The company has a market capitalization of $1,940.75, a PE ratio of 22.89 and a beta of 1.53. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. Franklin Electric Co. has a twelve month low of $36.00 and a twelve month high of $47.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a dividend of $0.108 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.43 annualized dividend and a yield of 1.01%. Franklin Electric’s dividend payout ratio is presently 23.12%.

A number of research firms have recently commented on FELE. BidaskClub downgraded Franklin Electric from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. Robert W. Baird raised their target price on Franklin Electric from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Franklin Electric in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.00.

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Franklin Electric Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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