PHINIA Inc. (NYSE:PHIN) Shares Sold by ING Groep NV

ING Groep NV trimmed its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 50.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,000 shares of the company's stock after selling 60,000 shares during the period. ING Groep NV owned about 0.14% of PHINIA worth $2,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in PHINIA by 144.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,740 shares of the company's stock valued at $221,000 after acquiring an additional 3,396 shares during the last quarter. Sei Investments Co. grew its holdings in shares of PHINIA by 4.5% in the first quarter. Sei Investments Co. now owns 136,883 shares of the company's stock worth $5,262,000 after purchasing an additional 5,876 shares during the last quarter. Russell Investments Group Ltd. increased its stake in PHINIA by 89.3% in the 1st quarter. Russell Investments Group Ltd. now owns 250,543 shares of the company's stock worth $9,628,000 after buying an additional 118,172 shares during the period. US Bancorp DE lifted its holdings in PHINIA by 78.4% during the 1st quarter. US Bancorp DE now owns 38,110 shares of the company's stock valued at $1,465,000 after buying an additional 16,750 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in PHINIA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company's stock valued at $207,848,000 after buying an additional 102,769 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Trading Up 0.5 %

NYSE PHIN opened at $52.37 on Friday. PHINIA Inc. has a one year low of $25.10 and a one year high of $53.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.48 and a beta of 0.86. The company's 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $44.76.

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

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, November 25th. PHINIA's payout ratio is 42.92%.

Insider Buying and Selling

In other news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred 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 of the company's stock, valued at $1,409,353.40. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price target for the company. in a research note on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 target price for the company.

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.