PHINIA (NYSE:PHIN) Price Target Raised to $69.00

PHINIA (NYSE:PHIN) had its price target upped by UBS Group from $68.00 to $69.00 in a research note issued to investors on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

PHIN has been the topic of a number of other research reports. Northland Securities set a $98.00 target price on PHINIA in a research note on Friday, July 31st. Weiss Ratings downgraded PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Zacks Research raised PHINIA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Wall Street Zen cut PHINIA from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, PHINIA currently has an average rating of “Moderate Buy” and an average price target of $83.75.

PHINIA Stock Down 0.2%

PHINIA stock opened at $62.78 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of 12.66 and a beta of 1.19. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 0.64. PHINIA has a twelve month low of $51.28 and a twelve month high of $86.93. The company’s 50-day moving average price is $62.07 and its two-hundred day moving average price is $71.32.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.15. PHINIA had a return on equity of 14.32% and a net margin of 5.22%. The company had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $928.21 million. As a group, analysts expect that PHINIA will post 6.25 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. PHINIA’s payout ratio is currently 24.19%.

Insider Activity

In other news, VP Christopher Gustanski sold 2,097 shares of PHINIA stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $66.97, for a total value of $140,436.09. Following the completion of the sale, the vice president directly owned 11,301 shares in the company, valued at approximately $756,827.97. The trade was a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Boyle sold 7,500 shares of PHINIA stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $62.12, for a total transaction of $465,900.00. Following the completion of the sale, the senior vice president owned 25,317 shares of the company’s stock, valued at approximately $1,572,692.04. The trade was a 22.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 55,270 shares of company stock worth $3,698,592. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On PHINIA

A number of large investors have recently added to or reduced their stakes in the stock. Lodge Hill Capital LLC raised its holdings in PHINIA by 450.8% in the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after acquiring an additional 1,948,820 shares in the last quarter. Amundi lifted its position in shares of PHINIA by 4,268.6% during the 1st quarter. Amundi now owns 200,693 shares of the company’s stock valued at $13,735,000 after acquiring an additional 196,099 shares during the period. Weiss Asset Management LP grew its holdings in shares of PHINIA by 345.9% during the 1st quarter. Weiss Asset Management LP now owns 72,300 shares of the company’s stock worth $4,948,000 after purchasing an additional 56,087 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of PHINIA by 90.4% during the 1st quarter. First Trust Advisors LP now owns 105,679 shares of the company’s stock worth $7,233,000 after purchasing an additional 50,189 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PHINIA by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,336,499 shares of the company’s stock worth $159,901,000 after purchasing an additional 34,503 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

About PHINIA

PHINIA Inc (NYSE:PHIN) is a global supplier of fuel systems, electrical systems and aftermarket products for automotive, commercial vehicle and industrial applications. The company develops technologies that support the performance, efficiency and emissions management of internal-combustion engines and other propulsion systems.

Its products include fuel injectors, fuel pumps and modules, fuel-system controls, ignition components, sensors, actuators and electronic control systems. PHINIA also supplies diesel fuel systems and related technologies for commercial vehicles and off-highway equipment, as well as replacement parts, service products and solutions through its aftermarket business.

PHINIA was established as an independent public company in 2023 after being spun off from BorgWarner.