Allianz Asset Management GmbH Sells 43,326 Shares of PHINIA Inc. $PHIN

Allianz Asset Management GmbH trimmed its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 38.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,662 shares of the company's stock after selling 43,326 shares during the quarter. Allianz Asset Management GmbH owned 0.18% of PHINIA worth $3,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHIN. Janney Montgomery Scott LLC lifted its position in PHINIA by 8.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,196 shares of the company's stock valued at $390,000 after acquiring an additional 698 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in PHINIA by 11.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock valued at $233,000 after acquiring an additional 560 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in PHINIA by 1.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 24,643 shares of the company's stock valued at $1,046,000 after acquiring an additional 396 shares in the last quarter. Teacher Retirement System of Texas lifted its position in PHINIA by 15.3% in the 1st quarter. Teacher Retirement System of Texas now owns 78,665 shares of the company's stock valued at $3,338,000 after acquiring an additional 10,455 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in PHINIA by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 229,854 shares of the company's stock valued at $9,753,000 after acquiring an additional 1,270 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PHIN. Bank of America boosted their price objective on shares of PHINIA from $60.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Zacks Research cut shares of PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Morgan Stanley boosted their price objective on shares of PHINIA from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Citigroup reiterated a "neutral" rating on shares of PHINIA in a research note on Tuesday, October 14th. Finally, UBS Group lifted their price target on shares of PHINIA from $55.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $55.83.

PHINIA Stock Up 0.7%

Shares of PHIN stock opened at $54.72 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.88. The firm's fifty day moving average price is $56.57 and its two-hundred day moving average price is $49.06. The firm has a market capitalization of $2.13 billion, a P/E ratio of 21.13, a PEG ratio of 0.52 and a beta of 1.48.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.28. The company had revenue of $890.00 million for the quarter, compared to analyst estimates of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. PHINIA's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. On average, equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. PHINIA's payout ratio is currently 41.70%.

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.

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