Geode Capital Management LLC Sells 35,138 Shares of PHINIA Inc. (NYSE:PHIN)

Geode Capital Management LLC decreased its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,016,468 shares of the company's stock after selling 35,138 shares during the period. Geode Capital Management LLC owned 2.42% of PHINIA worth $46,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in shares of PHINIA during the third quarter worth $1,073,000. Royce & Associates LP acquired a new position in PHINIA in the third quarter valued at about $695,000. Swedbank AB boosted its holdings in PHINIA by 161.2% during the third quarter. Swedbank AB now owns 66,752 shares of the company's stock worth $3,073,000 after buying an additional 41,200 shares during the last quarter. American Century Companies Inc. increased its stake in shares of PHINIA by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company's stock valued at $39,718,000 after acquiring an additional 251,650 shares during the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of PHINIA in the 3rd quarter valued at approximately $7,911,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Stock Up 0.8 %

PHINIA stock traded up $0.40 during midday trading on Tuesday, reaching $48.03. The stock had a trading volume of 201,822 shares, compared to its average volume of 639,830. The stock has a market capitalization of $2.02 billion, a P/E ratio of 20.61 and a beta of 1.09. The firm's fifty day simple moving average is $50.51 and its 200-day simple moving average is $46.49. 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 Inc. has a 1-year low of $27.86 and a 1-year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.38. The business 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%. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, analysts expect 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 was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, November 25th. PHINIA's payout ratio is 42.92%.

Analysts Set New Price Targets

A number of analysts recently commented on PHIN shares. UBS Group initiated coverage on shares of PHINIA in a research report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price objective for the company. Morgan Stanley cut 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 report on Wednesday, September 25th.

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.