Invesco Ltd. Sells 77,995 Shares of PHINIA Inc. (NYSE:PHIN)

Invesco Ltd. lessened its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 528,885 shares of the company's stock after selling 77,995 shares during the period. Invesco Ltd. owned about 1.26% of PHINIA worth $25,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PHIN. Smartleaf Asset Management LLC grew its stake in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV increased its position in shares of PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares during the period. AlphaQuest LLC bought a new stake in shares of PHINIA in the 4th quarter worth $173,000. State of Michigan Retirement System acquired a new stake in shares of PHINIA in the fourth quarter valued at $203,000. Finally, Magnetar Financial LLC bought a new position in PHINIA during the fourth quarter valued at about $264,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PHIN has been the subject of several research reports. CL King initiated coverage on shares of PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a report on Wednesday. Bank of America assumed coverage on PHINIA in a research note on Thursday, April 10th. They set a "buy" rating and a $53.00 price objective for the company. Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, Northland Securities initiated coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $51.50.

PHINIA Stock Up 1.5 %

PHIN stock traded up $0.63 during midday trading on Thursday, reaching $43.31. The company had a trading volume of 75,671 shares, compared to its average volume of 608,527. The company has a 50 day moving average of $43.91 and a two-hundred day moving average of $47.72. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.72 billion, a P/E ratio of 24.75 and a beta of 1.56. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. On average, equities research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Friday, February 28th. This is a positive change from PHINIA's previous quarterly dividend of $0.25. PHINIA's dividend payout ratio (DPR) is currently 61.71%.

PHINIA Company 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.