PNC Financial Services Group Inc. Has $274,000 Stock Position in PHINIA Inc. (NYSE:PHIN)

PNC Financial Services Group Inc. lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 25.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,058 shares of the company’s stock after selling 3,157 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PHINIA were worth $274,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Citigroup Inc. bought a new position in shares of PHINIA during the 3rd quarter worth about $692,000. Deutsche Bank AG acquired a new stake in PHINIA during the third quarter worth about $432,000. Rhumbline Advisers bought a new position in PHINIA during the third quarter valued at about $3,540,000. FMR LLC acquired a new position in PHINIA in the 3rd quarter valued at approximately $2,358,000. Finally, Invesco Ltd. bought a new stake in shares of PHINIA in the 3rd quarter worth approximately $11,563,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Morgan Stanley assumed coverage on PHINIA in a research report on Monday, March 11th. They set an “overweight” rating and a $50.00 price objective on the stock.

PHINIA Price Performance

NYSE:PHIN opened at $39.36 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $42.17 and a 200-day moving average of $36.28. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $46.08.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.34. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The firm had revenue of $863.00 million during the quarter, compared to analyst estimates of $800.00 million. PHINIA’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts forecast that PHINIA Inc. will post 4.05 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 2.54%.

Insiders Place Their Bets

In other news, VP Robert Boyle sold 1,828 shares of PHINIA stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.77, for a total value of $80,011.56. Following the completion of the transaction, the vice president now owns 36,337 shares in the company, valued at $1,590,470.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s 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.