State Street Corp Reduces Holdings in PHINIA Inc. (NYSE:PHIN)

State Street Corp decreased its holdings in PHINIA Inc. (NYSE:PHIN) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,788,287 shares of the company’s stock after selling 10,354 shares during the quarter. State Street Corp’s holdings in PHINIA were worth $82,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lecap Asset Management Ltd. lifted its holdings in PHINIA by 34.1% during the second quarter. Lecap Asset Management Ltd. now owns 10,601 shares of the company’s stock valued at $417,000 after purchasing an additional 2,695 shares in the last quarter. GYL Financial Synergies LLC lifted its holdings in PHINIA by 33.5% during the second quarter. GYL Financial Synergies LLC now owns 8,706 shares of the company’s stock valued at $343,000 after purchasing an additional 2,185 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in PHINIA by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company’s stock valued at $20,969,000 after purchasing an additional 57,068 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PHINIA by 32.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,868 shares of the company’s stock valued at $349,000 after purchasing an additional 2,185 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in PHINIA during the second quarter valued at approximately $66,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PHIN shares. UBS Group started coverage on shares of PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock. 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 Trading Down 1.5 %

PHINIA stock opened at $51.90 on Tuesday. The stock has a market cap of $2.18 billion, a P/E ratio of 22.27 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. PHINIA Inc. has a 1 year low of $27.83 and a 1 year high of $57.23. The firm’s 50 day moving average price is $50.14 and its 200-day moving average price is $46.31.

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

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, November 25th. PHINIA’s dividend payout ratio is presently 42.92%.

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.