Janney Montgomery Scott LLC Trims Holdings in PHINIA Inc. (NYSE:PHIN)

Janney Montgomery Scott LLC reduced its position in shares of PHINIA Inc. (NYSE:PHIN) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,498 shares of the company’s stock after selling 285 shares during the period. Janney Montgomery Scott LLC’s holdings in PHINIA were worth $409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of PHINIA by 30,454.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 13,444 shares of the company’s stock valued at $648,000 after purchasing an additional 13,400 shares during the period. Ritholtz Wealth Management grew its holdings in PHINIA by 50.8% in the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock valued at $1,351,000 after buying an additional 9,442 shares during the period. CWA Asset Management Group LLC grew its holdings in PHINIA by 23.5% in the 4th quarter. CWA Asset Management Group LLC now owns 20,797 shares of the company’s stock valued at $1,002,000 after buying an additional 3,954 shares during the period. Principal Financial Group Inc. increased its stake in shares of PHINIA by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,422 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of PHINIA during the 3rd quarter worth about $527,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on PHIN. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. UBS Group boosted their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Northland Securities initiated coverage on PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price on the stock.

PHINIA Stock Down 1.4 %

Shares of NYSE:PHIN opened at $49.24 on Tuesday. The stock has a 50-day simple moving average of $50.15 and a 200-day simple moving average of $48.37. The stock has a market capitalization of $2.07 billion, a P/E ratio of 21.13 and a beta of 1.35. PHINIA Inc. has a 1 year low of $30.09 and a 1 year 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.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 2.03%. PHINIA’s dividend payout ratio is currently 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.