First Citizens Bank & Trust Co. Takes Position in PHINIA Inc. $PHIN

First Citizens Bank & Trust Co. acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 13,312 shares of the company’s stock, valued at approximately $592,000.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group increased its position in shares of PHINIA by 853.0% during the 1st quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock valued at $67,000 after purchasing an additional 1,416 shares during the last quarter. One Wealth Advisors LLC bought a new position in shares of PHINIA during the 1st quarter valued at about $210,000. Advisors Asset Management Inc. bought a new position in shares of PHINIA during the 1st quarter valued at about $220,000. Eisler Capital Management Ltd. bought a new position in shares of PHINIA during the 1st quarter valued at about $223,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in PHINIA by 11.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company’s stock valued at $233,000 after acquiring an additional 560 shares during the period. 90.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PHIN. Bank of America increased their target price on PHINIA from $60.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Weiss Ratings restated a “hold (c+)” rating on shares of PHINIA in a report on Saturday. Citigroup restated a “neutral” rating on shares of PHINIA in a report on Tuesday, October 14th. Morgan Stanley increased their target price on PHINIA from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Finally, UBS Group increased their target price on PHINIA from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, PHINIA currently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

PHINIA Stock Up 0.7%

Shares of NYSE:PHIN opened at $54.72 on Friday. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $59.88. The firm has a market capitalization of $2.13 billion, a P/E ratio of 21.13, a P/E/G ratio of 0.53 and a beta of 1.48. The stock has a 50 day moving average price of $56.57 and a 200-day moving average price of $49.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. PHINIA had a return on equity of 10.74% and a net margin of 3.22%.The firm had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. During the same quarter in the prior year, the company earned $0.88 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. PHINIA’s dividend payout ratio is currently 41.70%.

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.