PHINIA (NYSE:PHIN) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of PHINIA (NYSE:PHIN) from an overweight rating to an equal weight rating in a report released on Wednesday, Marketbeat reports. Morgan Stanley currently has $50.00 price target on the stock.

Separately, UBS Group assumed coverage on shares of PHINIA in a research report on Wednesday, September 4th. They issued a buy rating and a $55.00 price objective on the stock.

PHINIA Trading Up 0.4 %

NYSE:PHIN opened at $47.01 on Wednesday. PHINIA has a one year low of $23.46 and a one year high of $52.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85. The firm has a market cap of $2.15 billion, a P/E ratio of 9.67 and a beta of 0.86. The firm has a 50-day simple moving average of $45.81 and a 200-day simple moving average of $42.53.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.27). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The business had revenue of $868.00 million during the quarter, compared to the consensus estimate of $889.00 million. During the same quarter in the prior year, the firm posted $1.61 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts anticipate that PHINIA will post 3.37 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA’s dividend payout ratio is presently 20.58%.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by insiders.

Institutional Trading of PHINIA

A number of hedge funds and other institutional investors have recently made changes to their positions in PHIN. Charles Schwab Investment Management Inc. grew its position in PHINIA by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock worth $10,214,000 after purchasing an additional 14,289 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of PHINIA by 8.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 26,497 shares of the company’s stock worth $803,000 after buying an additional 2,026 shares during the last quarter. Norges Bank acquired a new stake in PHINIA during the fourth quarter worth about $16,896,000. US Bancorp DE raised its position in PHINIA by 17.5% during the fourth quarter. US Bancorp DE now owns 21,360 shares of the company’s stock valued at $647,000 after acquiring an additional 3,184 shares in the last quarter. Finally, Commerce Bank acquired a new position in PHINIA in the fourth quarter valued at approximately $394,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.