AQR Capital Management LLC Cuts Position in PHINIA Inc. (NYSE:PHIN)

AQR Capital Management LLC reduced its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 92.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,611 shares of the company’s stock after selling 230,511 shares during the quarter. AQR Capital Management LLC’s holdings in PHINIA were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of PHINIA in the fourth quarter worth approximately $37,000. Fidelis Capital Partners LLC acquired a new position in shares of PHINIA during the first quarter valued at $37,000. GAMMA Investing LLC boosted its holdings in shares of PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after acquiring an additional 567 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA during the second quarter valued at $49,000. Finally, EntryPoint Capital LLC acquired a new stake in PHINIA in the first quarter worth about $60,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. 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 target on the stock. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Wednesday, September 25th.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now owns 29,540 shares in the company, valued at approximately $1,409,353.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

PHINIA Trading Up 1.8 %

Shares of NYSE PHIN opened at $45.59 on Monday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 24.38 and a beta of 0.85. 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 business has a 50 day simple moving average of $46.18 and a 200 day simple moving average of $43.17. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $52.19.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The business had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. During the same quarter last year, the firm earned $1.61 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts predict that PHINIA Inc. will post 3.27 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. PHINIA’s payout ratio is 53.48%.

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.