JPMorgan Chase & Co. Has $20.66 Million Stake in PHINIA Inc. $PHIN

Key Points

• JPMorgan Chase trimmed its PHINIA position by 8.6% in Q3, holding 359,429 shares worth $20.66 million (about 0.94% of the company) after selling 33,806 shares.
• PHINIA missed EPS estimates with $1.18 reported vs. $1.35 expected but posted revenue of $889 million (above estimates), and raised its quarterly dividend to $0.30 (annualized $1.20, ~1.8% yield).
• Insiders sold shares on March 4 — VP Neil Fryer sold 624 shares and VP Christopher Gustanski sold 3,812 shares — while institutional investors own roughly 90.94% of the stock and insiders own about 2.0%.

JPMorgan Chase & Co. reduced its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 359,429 shares of the company's stock after selling 33,806 shares during the period. JPMorgan Chase & Co. owned 0.94% of PHINIA worth $20,660,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of PHINIA by 34.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company's stock valued at $50,000 after purchasing an additional 222 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in PHINIA by 350.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company's stock worth $42,000 after purchasing an additional 700 shares in the last quarter. MAI Capital Management increased its holdings in PHINIA by 845.4% in the third quarter. MAI Capital Management now owns 917 shares of the company's stock worth $53,000 after purchasing an additional 820 shares in the last quarter. State of Wyoming acquired a new position in PHINIA in the second quarter valued at approximately $60,000. Finally, Jones Financial Companies Lllp lifted its stake in PHINIA by 296.7% in the third quarter. Jones Financial Companies Lllp now owns 1,436 shares of the company's stock valued at $83,000 after buying an additional 1,074 shares during the period. 90.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Northland Securities set a $93.00 price target on PHINIA in a report on Friday, February 13th. Zacks Research upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 31st. Wall Street Zen raised shares of PHINIA from a "buy" rating to a "strong-buy" rating in a research note on Sunday, February 22nd. UBS Group restated a "neutral" rating and issued a $76.00 price target on shares of PHINIA in a report on Friday, February 13th. Finally, Freedom Capital downgraded shares of PHINIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, PHINIA currently has an average rating of "Moderate Buy" and a consensus target price of $68.80.

Insiders Place Their Bets

In related news, VP Neil Fryer sold 624 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total value of $45,396.00. Following the sale, the vice president owned 18,180 shares in the company, valued at $1,322,595. This represents a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher Gustanski sold 3,812 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the transaction, the vice president directly owned 14,871 shares in the company, valued at approximately $1,081,567.83. The trade was a 20.40% decrease in their position. The SEC filing for this sale provides additional information. 2.00% of the stock is currently owned by company insiders.

PHINIA Trading Up 2.5%

Shares of PHINIA stock opened at $67.41 on Wednesday. The stock has a market capitalization of $2.56 billion, a PE ratio of 20.74 and a beta of 1.36. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $81.11. The stock has a 50 day moving average price of $70.54 and a two-hundred day moving average price of $61.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.36 and a current ratio of 1.86.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The firm had revenue of $889.00 million for the quarter, compared to analyst estimates of $843.59 million. During the same period in the previous year, the company earned $0.71 earnings per share. PHINIA's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 6th. This is a positive change from PHINIA's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.8%. PHINIA's dividend payout ratio is currently 36.92%.

About PHINIA

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.

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