PHINIA Inc. (NYSE:PHIN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 3,302.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,062 shares of the company's stock after buying an additional 50,532 shares during the quarter. GAMMA Investing LLC owned about 0.13% of PHINIA worth $2,209,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after acquiring an additional 418 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PHINIA in the fourth quarter valued at approximately $144,000. AlphaQuest LLC acquired a new position in shares of PHINIA in the fourth quarter valued at approximately $173,000. State of Michigan Retirement System acquired a new position in shares of PHINIA in the fourth quarter valued at approximately $203,000. Finally, Optimize Financial Inc purchased a new stake in PHINIA during the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on PHIN shares. Bank of America raised their price target on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. UBS Group reissued a "neutral" rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Morgan Stanley cut their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, CL King began coverage on PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.17.

Insiders Place Their Bets

In other news, CEO Brady D. Ericson bought 10,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the transaction, the chief executive officer now owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meggan M. Walsh bought 1,400 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $42.71 per share, with a total value of $59,794.00. Following the completion of the transaction, the director now owns 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,423 shares of company stock valued at $458,069. 2.00% of the stock is owned by corporate insiders.

PHINIA Stock Down 1.5%

Shares of PHIN stock traded down $0.63 on Tuesday, reaching $42.17. 611,082 shares of the stock were exchanged, compared to its average volume of 582,625. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63. The business's 50 day moving average price is $42.23 and its 200 day moving average price is $46.01. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 0.47 and a beta of 1.55. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The business had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same period in the prior year, the company posted $1.08 earnings per share. The company's revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.56%. PHINIA's dividend payout ratio is currently 61.36%.

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.