PHINIA (NYSE:PHIN) CEO Sells $1,905,345.40 in Stock

PHINIA Inc. (NYSE:PHIN) CEO Brady Ericson sold 27,860 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $68.39, for a total transaction of $1,905,345.40. Following the completion of the transaction, the chief executive officer owned 330,497 shares in the company, valued at $22,602,689.83. The trade was a 7.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PHINIA Stock Performance

PHINIA stock opened at $68.16 on Friday. The firm has a 50 day simple moving average of $75.80 and a 200-day simple moving average of $74.60. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 19.53 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. PHINIA Inc. has a 1-year low of $50.79 and a 1-year high of $86.93.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.04). PHINIA had a net margin of 3.73% and a return on equity of 13.86%. The firm had revenue of $940.00 million for the quarter, compared to analysts’ expectations of $918.83 million. On average, analysts expect that PHINIA Inc. will post 6.18 EPS for the current year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.30 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. PHINIA’s payout ratio is currently 34.38%.

Hedge Funds Weigh In On PHINIA

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in PHINIA by 464.8% in the 1st quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock valued at $3,214,000 after acquiring an additional 62,333 shares in the last quarter. AQR Capital Management LLC increased its stake in PHINIA by 62.3% during the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock worth $938,000 after purchasing an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PHINIA by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock worth $1,056,000 after purchasing an additional 1,093 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after purchasing an additional 58,875 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PHINIA by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock valued at $4,000,000 after purchasing an additional 6,478 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PHIN shares. Northland Securities set a $98.00 price target on PHINIA in a report on Friday, July 31st. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. UBS Group decreased their target price on shares of PHINIA from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. KeyCorp initiated coverage on shares of PHINIA in a research note on Friday, June 12th. They set an “overweight” rating and a $105.00 target price for the company. Finally, Zacks Research cut shares of PHINIA from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.