Easterly Investment Partners LLC Sells 25,320 Shares of PHINIA Inc. (NYSE:PHIN)

Easterly Investment Partners LLC trimmed its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 72.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,470 shares of the company's stock after selling 25,320 shares during the quarter. Easterly Investment Partners LLC's holdings in PHINIA were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of PHINIA by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock worth $68,120,000 after acquiring an additional 110,931 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in PHINIA by 10.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company's stock worth $46,794,000 after acquiring an additional 95,870 shares in the last quarter. JPMorgan Chase & Co. boosted its position in PHINIA by 0.3% during the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company's stock valued at $27,054,000 after purchasing an additional 1,603 shares during the last quarter. Wellington Management Group LLP grew its stake in PHINIA by 1.2% in the third quarter. Wellington Management Group LLP now owns 333,395 shares of the company's stock valued at $15,346,000 after purchasing an additional 3,804 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of PHINIA by 5.1% during the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock worth $11,552,000 after purchasing an additional 11,625 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PHIN. UBS Group increased their price target on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Northland Securities assumed coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target for the company. Finally, CL King started coverage on PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $55.50.

PHINIA Stock Up 1.6 %

NYSE PHIN traded up $0.68 on Tuesday, hitting $43.11. 86,013 shares of the company were exchanged, compared to its average volume of 572,987. PHINIA Inc. has a 12 month low of $36.10 and a 12 month high of $57.23. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.76 billion, a PE ratio of 24.64 and a beta of 1.38. The stock has a fifty day moving average of $47.74 and a 200-day moving average of $48.68.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. As a group, analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 2.51%. This is an increase from PHINIA's previous quarterly dividend of $0.25. PHINIA's dividend payout ratio (DPR) is presently 61.71%.

PHINIA Company 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.