PHINIA Inc. (NYSE:PHIN) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in PHINIA Inc. by 21.3%, now holding approximately 0.29% of the company, after selling 30,784 shares in the first quarter.
• PHINIA reported $1.27 EPS for the last quarter, exceeding expectations by $0.28, and its revenue was up 2.5% year-over-year at $890 million.
• The stock price of PHINIA has a 52-week range of $36.25 to $57.23, and a recent price target from analysts averages around $52.83.

Allianz Asset Management GmbH reduced its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 21.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 113,988 shares of the company's stock after selling 30,784 shares during the period. Allianz Asset Management GmbH owned 0.29% of PHINIA worth $4,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional purchased a new stake in PHINIA during the 1st quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHINIA during the 4th quarter valued at approximately $144,000. Optimize Financial Inc purchased a new stake in PHINIA during the 4th quarter valued at approximately $206,000. Oppenheimer Asset Management Inc. increased its position in PHINIA by 11.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company's stock worth $233,000 after purchasing an additional 560 shares during the period. Finally, Bryce Point Capital LLC acquired a new position in PHINIA during the 4th quarter worth approximately $271,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PHIN shares. Wall Street Zen upgraded PHINIA from a "hold" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group reiterated a "neutral" rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Bank of America increased their target price on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Morgan Stanley lowered their target price 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, BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, PHINIA presently has an average rating of "Moderate Buy" and an average price target of $52.83.

Insiders Place Their Bets

In other news, Director Meggan M. Walsh bought 1,400 shares of PHINIA stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the acquisition, the director owned 7,492 shares of the company's stock, valued at $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company's stock.

PHINIA Trading Down 0.8%

Shares of PHIN stock traded down $0.42 during mid-day trading on Friday, hitting $50.28. 103,967 shares of the company's stock were exchanged, compared to its average volume of 520,546. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The stock has a 50-day simple moving average of $45.87 and a two-hundred day simple moving average of $45.46. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.47 and a beta of 1.49.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.28. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The firm had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. During the same quarter last year, the firm earned $0.88 earnings per share. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.1%. PHINIA's payout ratio is currently 41.70%.

PHINIA 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.