Northern Trust Corp Buys 48,571 Shares of PHINIA Inc. (NYSE:PHIN)

Northern Trust Corp grew its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 496,063 shares of the company's stock after acquiring an additional 48,571 shares during the quarter. Northern Trust Corp owned 1.18% of PHINIA worth $23,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHIN. First Trust Advisors LP raised its stake in shares of PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after purchasing an additional 458,650 shares in the last quarter. Voss Capital LP boosted its position in shares of PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after acquiring an additional 342,081 shares during the period. Dimensional Fund Advisors LP increased its stake in PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after acquiring an additional 253,345 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of PHINIA during the 4th quarter worth $6,874,000. Finally, American Century Companies Inc. increased its position in shares of PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock worth $68,120,000 after purchasing an additional 110,931 shares during the period. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Performance

Shares of NYSE PHIN traded down $0.24 during mid-day trading on Friday, hitting $44.18. The company had a trading volume of 309,034 shares, compared to its average volume of 595,874. The stock's 50-day moving average price is $41.82 and its 200-day moving average price is $47.38. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 25.25 and a beta of 1.59. 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 Inc. has a 1 year low of $36.25 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. On average, sell-side analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

Insider Activity at PHINIA

In other news, CEO Brady D. Ericson bought 10,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was acquired at an average price of $39.73 per share, with a total value of $397,300.00. Following the completion of the purchase, the chief executive officer now directly owns 436,486 shares in the company, valued at $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PHIN has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday. Northland Securities started coverage on PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective for the company. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. UBS Group reiterated a "neutral" rating and set a $45.00 price target (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Finally, BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price on the stock. in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $51.83.

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.