State Street Corp. Maintains Passive Stake in Franklin Electric
Ticker: FELE · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 38725
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street still owns Franklin Electric shares, signaling stability.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 22, 2024, indicating its ownership of Franklin Electric Co Inc's common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued passive investment in Franklin Electric. For investors, this means a significant institutional holder maintains its position, which can signal stability and confidence in the company's long-term prospects.
Why It Matters
This filing shows that a large institutional investor, State Street Corporation, continues to hold shares in Franklin Electric, which can be a vote of confidence for current and potential shareholders.
Risk Assessment
Risk Level: low — This is a routine update from a passive institutional investor, indicating no immediate change in investment strategy or significant risk.
Analyst Insight
A smart investor would view this as a routine update, confirming institutional interest without signaling any immediate catalysts for Franklin Electric's stock. It reinforces the idea that the stock is held by major institutions.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Franklin Electric Co Inc (company) — the issuer of the securities
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- State Street Corporation will maintain a passive investment strategy in Franklin Electric Co Inc. (State Street Corporation) — high confidence, target: Next 12 months
- Franklin Electric Co Inc's stock price will not experience significant volatility directly due to this filing. (Franklin Electric Co Inc) — high confidence, target: Next 30 days
FAQ
What type of filing is this and who filed it?
This is an SC 13G/A filing, an amendment to a Schedule 13G, filed by State Street Corporation (CIK: 0000093751).
Which company's stock is the subject of this filing?
The subject company is FRANKLIN ELECTRIC CO INC (CIK: 0000038725), specifically its Common Stock.
What was the 'Date of Event Which Requires Filing of This Statement'?
The date of the event which required this filing was December 31, 2023.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for Franklin Electric Co Inc's common stock is 353514102.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding FRANKLIN ELECTRIC CO INC (FELE).