State Street Corp Sells 10,354 Shares of PHINIA Inc. (NYSE:PHIN)

State Street Corp lessened its stake in shares of PHINIA Inc. (NYSE:PHIN) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,788,287 shares of the company’s stock after selling 10,354 shares during the period. State Street Corp owned approximately 4.25% of PHINIA worth $82,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in PHINIA by 23.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $65,000 after buying an additional 271 shares in the last quarter. Quantinno Capital Management LP increased its position in PHINIA by 2.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock valued at $674,000 after buying an additional 345 shares in the last quarter. Old North State Wealth Management LLC increased its position in PHINIA by 4.9% during the 3rd 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 in the last quarter. KBC Group NV increased its position in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after buying an additional 494 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its position 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 buying an additional 713 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

Shares of PHIN opened at $51.90 on Tuesday. The business’s fifty day simple moving average is $50.14 and its two-hundred day simple moving average is $46.31. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12 month low of $27.83 and a 12 month high of $57.23. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 22.27 and a beta of 1.10.

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

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

Analyst Ratings Changes

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

About PHINIA

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.