AQR Capital Management LLC Sells 230,511 Shares of PHINIA Inc. (NYSE:PHIN)

AQR Capital Management LLC lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 92.5% during the second quarter, Holdings Channel.com reports. 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of PHINIA during the fourth quarter worth about $37,000. Fidelis Capital Partners LLC acquired a new stake in PHINIA in the 1st quarter valued at approximately $37,000. GAMMA Investing LLC raised its position in PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after buying an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA in the 2nd quarter valued at approximately $49,000. Finally, EntryPoint Capital LLC acquired a new stake in PHINIA in the 1st quarter valued at approximately $60,000. Institutional investors own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company.

Insider Activity at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

PHINIA Stock Performance

PHIN opened at $45.59 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of 24.38 and a beta of 0.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. The business has a fifty day simple moving average of $46.18 and a 200 day simple moving average of $43.17. PHINIA Inc. has a 1 year low of $23.46 and a 1 year high of $52.19.

PHINIA (NYSE:PHIN) last posted 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 period last year, the firm posted $1.61 EPS. PHINIA’s quarterly revenue was down 2.1% on a year-over-year basis. Research analysts expect that PHINIA Inc. will post 3.27 EPS for the current year.

PHINIA Dividend Announcement

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

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.