Insider Selling: PHINIA Inc. (NYSE:PHIN) VP Sells 1,828 Shares of Stock

PHINIA Inc. (NYSE:PHIN - Get Free Report) VP Robert Boyle sold 1,828 shares of the firm's stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.77, for a total transaction of $80,011.56. Following the completion of the transaction, the vice president now directly owns 36,337 shares in the company, valued at approximately $1,590,470.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PHINIA Stock Performance

Shares of NYSE PHIN traded down $0.38 during midday trading on Tuesday, hitting $42.58. 613,319 shares of the company's stock were exchanged, compared to its average volume of 648,154. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.27 and a current ratio of 1.71. The stock's 50 day moving average price is $41.43 and its 200-day moving average price is $34.89. PHINIA Inc. has a twelve month low of $23.46 and a twelve month high of $46.08.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.34. The business had revenue of $863.00 million during the quarter, compared to the consensus estimate of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. PHINIA's quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.35%.

Institutional Investors Weigh In On PHINIA

A number of institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its holdings in shares of PHINIA by 8.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 16,527 shares of the company's stock valued at $635,000 after buying an additional 1,300 shares in the last quarter. Swedbank AB bought a new position in shares of PHINIA in the first quarter valued at $982,000. Hancock Whitney Corp bought a new position in shares of PHINIA in the first quarter valued at $551,000. Ancora Advisors LLC increased its holdings in shares of PHINIA by 4.3% in the first quarter. Ancora Advisors LLC now owns 196,460 shares of the company's stock valued at $7,550,000 after buying an additional 8,040 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of PHINIA by 3,027.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company's stock valued at $16,839,000 after buying an additional 424,168 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley started coverage on PHINIA in a research report on Monday, March 11th. They set an "overweight" rating and a $50.00 price objective for the company.

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.

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