Deutsche Bank AG Purchases 11,883 Shares of PHINIA Inc. (NYSE:PHIN)

Deutsche Bank AG grew its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,402 shares of the company's stock after acquiring an additional 11,883 shares during the period. Deutsche Bank AG owned about 0.09% of PHINIA worth $1,850,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Barclays PLC raised its position in PHINIA by 336.2% during the third quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after acquiring an additional 56,114 shares during the last quarter. KBC Group NV increased its stake in shares of PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after purchasing an additional 685 shares in the last quarter. Vest Financial LLC raised its position in shares of PHINIA by 79.2% during the 4th quarter. Vest Financial LLC now owns 52,757 shares of the company's stock worth $2,541,000 after purchasing an additional 23,310 shares during the last quarter. Empowered Funds LLC lifted its stake in PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock valued at $11,552,000 after buying an additional 11,625 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in PHINIA by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 228,584 shares of the company's stock valued at $11,011,000 after buying an additional 842 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Down 0.2%

Shares of PHIN traded down $0.09 during midday trading on Thursday, reaching $43.80. 435,562 shares of the company were exchanged, compared to its average volume of 589,698. The stock has a 50-day moving average price of $41.88 and a 200-day moving average price of $47.06. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 25.03 and a beta of 1.59. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 earnings per share. Research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.27 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.47%. PHINIA's dividend payout ratio (DPR) is 61.36%.

Analyst Ratings Changes

Several analysts have recently issued reports on PHIN shares. Northland Securities began coverage on PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective on the stock. Bank of America upped their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. UBS Group reaffirmed a "neutral" rating and set a $45.00 price target (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Morgan Stanley cut their price objective on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Finally, CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.17.

Insiders Place Their Bets

In other PHINIA news, CEO Brady D. Ericson acquired 10,000 shares of PHINIA stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the purchase, the chief executive officer now owns 436,486 shares in the company, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Meggan M. Walsh purchased 1,400 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the acquisition, the director now owns 7,492 shares of the company's stock, valued at $319,983.32. This trade represents a 22.98% increase in their position. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.

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.