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

Geode Capital Management LLC trimmed its holdings in PHINIA Inc. (NYSE:PHIN) by 3.3% in the third quarter, according to 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 quarter. Geode Capital Management LLC owned about 2.42% of PHINIA worth $46,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PHIN. Pacer Advisors Inc. acquired a new stake in shares of PHINIA in the third quarter valued at approximately $80,154,000. Great Lakes Advisors LLC lifted its stake in shares of PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after purchasing an additional 317,935 shares during the period. American Century Companies Inc. boosted its holdings in PHINIA by 33.2% during the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after buying an additional 251,650 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of PHINIA during the 3rd quarter worth about $10,504,000. Finally, Dimensional Fund Advisors LP raised its position in shares of PHINIA by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after acquiring an additional 215,150 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

PHIN has been the topic of several analyst reports. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price on the stock.

PHINIA Stock Performance

Shares of PHIN stock opened at $47.63 on Tuesday. The company has a market capitalization of $2.00 billion, a P/E ratio of 20.44 and a beta of 1.09. PHINIA Inc. has a 52 week low of $27.86 and a 52 week high of $57.23. 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’s 50 day moving average price is $50.45 and its two-hundred day moving average price is $46.46.

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

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.10%. PHINIA’s payout ratio is presently 42.92%.

PHINIA 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.