Bank Julius Baer & Co. Ltd Zurich Lowers Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in PHINIA Inc. (NYSE:PHIN) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,834 shares of the company’s stock after selling 2,306 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in PHINIA were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in shares of PHINIA by 816.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 990 shares of the company’s stock worth $30,000 after buying an additional 882 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in PHINIA in the third quarter valued at approximately $27,000. Whittier Trust Co. purchased a new stake in PHINIA in the third quarter valued at approximately $29,000. Financial Enhancement Group LLC raised its stake in PHINIA by 3.6% in the fourth quarter. Financial Enhancement Group LLC now owns 33,289 shares of the company’s stock valued at $946,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in PHINIA during the third quarter valued at approximately $35,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Up 1.4 %

Shares of NYSE PHIN opened at $38.85 on Friday. PHINIA Inc. has a one year low of $23.46 and a one year high of $40.12. The company has a current ratio of 1.71, a quick ratio of 1.25 and a debt-to-equity ratio of 0.38. The firm’s 50 day simple moving average is $36.70 and its two-hundred day simple moving average is $31.02.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. PHINIA had a net margin of 3.06% and a return on equity of 7.52%. The business had revenue of $863.00 million for the quarter, compared to analysts’ expectations of $800.00 million. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Friday, February 23rd.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley started coverage on shares of PHINIA in a research report on Monday, March 11th. They set an “overweight” rating and a $50.00 price target on the stock.

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.