PHINIA (NYSE:PHIN) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

PHINIA Inc. (NYSE:PHIN) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $71.36 and traded as high as $72.15. PHINIA shares last traded at $72.1130, with a volume of 289,462 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PHIN shares. Northland Securities set a $98.00 price objective on shares of PHINIA in a research report on Friday, July 31st. Weiss Ratings downgraded shares of PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. UBS Group increased their price target on PHINIA from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Finally, Zacks Research upgraded PHINIA from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, PHINIA currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

PHINIA Stock Up 1.1%

The company’s 50 day moving average price is $62.27 and its two-hundred day moving average price is $71.38. The company has a current ratio of 1.70, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.63 billion, a P/E ratio of 14.77 and a beta of 1.16.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 29th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.15. PHINIA had a net margin of 5.22% and a return on equity of 14.32%. The company had revenue of $912.00 million during the quarter, compared to analyst estimates of $928.21 million. Equities analysts forecast that PHINIA Inc. will post 6.10 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Monday, November 23rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, November 23rd. PHINIA’s dividend payout ratio is 24.19%.

Insider Transactions at PHINIA

In related news, SVP Robert Boyle sold 7,500 shares of PHINIA stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $62.12, for a total transaction of $465,900.00. Following the transaction, the senior vice president directly owned 25,317 shares in the company, valued at approximately $1,572,692.04. The trade was a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd L. Anderson sold 3,056 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $66.41, for a total value of $202,948.96. Following the sale, the vice president directly owned 26,736 shares of the company’s stock, valued at $1,775,537.76. This represents a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,270 shares of company stock worth $3,698,592 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in PHINIA by 19.2% in the 3rd quarter. Empowered Funds LLC now owns 223,693 shares of the company’s stock worth $13,294,000 after acquiring an additional 36,008 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in PHINIA by 9.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 23,750 shares of the company’s stock worth $1,411,000 after acquiring an additional 2,005 shares during the period. Advisors Asset Management Inc. purchased a new position in PHINIA during the third quarter valued at approximately $3,467,000. Global Retirement Partners LLC lifted its holdings in PHINIA by 54.5% during the third quarter. Global Retirement Partners LLC now owns 1,888 shares of the company’s stock valued at $112,000 after purchasing an additional 666 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new position in PHINIA during the third quarter valued at approximately $214,000. Institutional investors own 90.94% of the company’s stock.

About PHINIA

PHINIA Inc. develops and manufactures fuel systems and aftermarket products for the global automotive and commercial vehicle industries. Its products include fuel injection and fuel delivery systems, ignition components, and related technologies for vehicles with internal combustion engines. The company also supplies replacement parts and services to the automotive aftermarket, including products under the Delphi brand. Its customers include vehicle and engine manufacturers as well as distributors and repair businesses.