Franklin Resources Inc. Has $666,000 Holdings in PHINIA Inc. (NYSE:PHIN)

Franklin Resources Inc. lowered its position in shares of PHINIA Inc. (NYSE:PHIN) by 2.5% in the third quarter, HoldingsChannel reports. The fund owned 14,568 shares of the company’s stock after selling 367 shares during the period. Franklin Resources Inc.’s holdings in PHINIA were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHIN. GAMMA Investing LLC lifted its position in PHINIA by 23.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after buying an additional 271 shares in the last quarter. Quantinno Capital Management LP grew its holdings in PHINIA by 2.4% during the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock worth $674,000 after purchasing an additional 345 shares during the period. Old North State Wealth Management LLC lifted its position in shares of PHINIA by 4.9% in the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after buying an additional 451 shares during the last quarter. KBC Group NV raised its stake in PHINIA by 49.4% in the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after acquiring an additional 494 shares during the period. Finally, CHICAGO TRUST Co NA lifted its holdings in PHINIA by 8.1% during the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock valued at $439,000 after purchasing an additional 713 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Stock Performance

Shares of PHINIA stock opened at $48.23 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.03 billion, a PE ratio of 20.70 and a beta of 1.10. The company has a 50 day moving average of $50.66 and a 200-day moving average of $46.58. PHINIA Inc. has a 1-year low of $27.86 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.38. The business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. As a group, equities research analysts forecast that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. PHINIA’s dividend payout ratio (DPR) is presently 42.92%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Wednesday, September 25th. UBS Group started coverage on shares of PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price on the stock.

PHINIA Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.