PHINIA Inc. (NYSE:PHIN) Shares Sold by Investors Research Corp

Investors Research Corp lowered its position in shares of PHINIA Inc. (NYSE:PHIN) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,237 shares of the company’s stock after selling 433 shares during the quarter. Investors Research Corp’s holdings in PHINIA were worth $195,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $65,000 after purchasing an additional 271 shares during the period. Old North State Wealth Management LLC boosted its stake in PHINIA by 4.9% in the 3rd quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock worth $442,000 after purchasing an additional 451 shares during the period. KBC Group NV grew its position in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after purchasing an additional 494 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in shares of PHINIA by 8.1% in the third 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of PHINIA by 15.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock worth $343,000 after buying an additional 1,169 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the transaction, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by company insiders.

PHINIA Stock Up 2.2 %

Shares of NYSE PHIN traded up $1.14 during trading hours on Thursday, hitting $53.88. The stock had a trading volume of 16,233 shares, compared to its average volume of 637,389. The firm’s 50-day moving average price is $47.50 and its two-hundred day moving average price is $45.00. PHINIA Inc. has a 52 week low of $25.19 and a 52 week high of $53.97. The company has a market capitalization of $2.27 billion, a P/E ratio of 22.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93.

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

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is 42.92%.

Analysts Set New Price Targets

PHIN has been the subject of several research analyst reports. UBS Group began coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective for the company. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research note on Wednesday, September 25th.

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.