PHINIA Inc. $PHIN Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of PHINIA Inc. (NYSE:PHIN) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,139,519 shares of the company’s stock after selling 9,554 shares during the quarter. Geode Capital Management LLC’s holdings in PHINIA were worth $71,447,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in shares of PHINIA by 76.7% during the 4th quarter. Hantz Financial Services Inc. now owns 979 shares of the company’s stock worth $61,000 after purchasing an additional 425 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of PHINIA by 2,529.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,262 shares of the company’s stock worth $79,000 after purchasing an additional 1,214 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of PHINIA by 36.7% during the 4th quarter. Handelsbanken Fonder AB now owns 14,900 shares of the company’s stock worth $934,000 after purchasing an additional 4,000 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of PHINIA by 1.9% during the 4th quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after purchasing an additional 141 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Up 1.3%

Shares of NYSE:PHIN opened at $80.51 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. PHINIA Inc. has a 1 year low of $41.59 and a 1 year high of $83.35. The stock has a market capitalization of $2.98 billion, a P/E ratio of 22.49 and a beta of 1.16. The stock has a 50-day simple moving average of $74.23 and a 200-day simple moving average of $68.68.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts forecast that PHINIA Inc. will post 6.36 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. PHINIA’s payout ratio is presently 33.52%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PHIN shares. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. UBS Group reiterated a “neutral” rating and set a $76.00 price objective on shares of PHINIA in a report on Friday, February 13th. Finally, Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, PHINIA presently has an average rating of “Moderate Buy” and a consensus price target of $68.80.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.