Geode Capital Management LLC Purchases 1,782 Shares of Modine Manufacturing Company $MOD

Geode Capital Management LLC increased its position in Modine Manufacturing Company (NYSE:MOD) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,221,688 shares of the auto parts company’s stock after purchasing an additional 1,782 shares during the period. Geode Capital Management LLC owned approximately 2.32% of Modine Manufacturing worth $163,135,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in shares of Modine Manufacturing by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after purchasing an additional 103 shares in the last quarter. Intrust Bank NA lifted its holdings in shares of Modine Manufacturing by 2.3% in the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock worth $699,000 after purchasing an additional 109 shares in the last quarter. Clearstead Advisors LLC raised its position in Modine Manufacturing by 3.7% in the 4th quarter. Clearstead Advisors LLC now owns 4,589 shares of the auto parts company’s stock valued at $613,000 after buying an additional 164 shares during the last quarter. Arizona State Retirement System raised its position in Modine Manufacturing by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 14,752 shares of the auto parts company’s stock valued at $2,097,000 after buying an additional 176 shares during the last quarter. Finally, Xponance Inc. raised its position in Modine Manufacturing by 4.3% in the 3rd quarter. Xponance Inc. now owns 4,349 shares of the auto parts company’s stock valued at $618,000 after buying an additional 179 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MOD. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. UBS Group increased their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Oppenheimer increased their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, DA Davidson increased their price target on Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Trading Down 1.9%

NYSE MOD opened at $301.00 on Thursday. The firm has a market capitalization of $15.90 billion, a P/E ratio of 134.38, a PEG ratio of 0.99 and a beta of 1.65. The business has a fifty day simple moving average of $252.19 and a 200 day simple moving average of $198.70. Modine Manufacturing Company has a 12 month low of $86.48 and a 12 month high of $323.25. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. During the same period last year, the firm posted $1.12 EPS. The business’s revenue was up 47.5% compared to the same quarter last year. On average, analysts predict that Modine Manufacturing Company will post 7.73 EPS for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.