Harel Insurance Investments & Financial Services Ltd. Has $29,000 Position in Modine Manufacturing (NYSE:MOD)

Harel Insurance Investments & Financial Services Ltd. lowered its holdings in Modine Manufacturing (NYSE:MOD) by 55.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 286 shares of the auto parts company’s stock after selling 352 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Modine Manufacturing were worth $29,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares during the last quarter. Strs Ohio raised its stake in Modine Manufacturing by 28.6% in the fourth quarter. Strs Ohio now owns 3,600 shares of the auto parts company’s stock valued at $214,000 after buying an additional 800 shares during the period. Mackenzie Financial Corp bought a new stake in Modine Manufacturing in the fourth quarter valued at approximately $261,000. Handelsbanken Fonder AB bought a new stake in Modine Manufacturing in the fourth quarter valued at approximately $782,000. Finally, Jennison Associates LLC raised its stake in Modine Manufacturing by 3.3% in the fourth quarter. Jennison Associates LLC now owns 15,233 shares of the auto parts company’s stock valued at $909,000 after buying an additional 493 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

MOD has been the topic of a number of recent research reports. DA Davidson increased their target price on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer increased their target price on Modine Manufacturing from $114.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. B. Riley increased their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, William Blair started coverage on Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Modine Manufacturing Stock Down 0.6 %

Modine Manufacturing stock traded down $0.62 during midday trading on Wednesday, reaching $107.50. The stock had a trading volume of 13,030 shares, compared to its average volume of 922,711. Modine Manufacturing has a 12 month low of $38.50 and a 12 month high of $123.92. The company has a market capitalization of $5.63 billion, a P/E ratio of 35.71, a PEG ratio of 0.86 and a beta of 2.27. The company has a fifty day moving average price of $103.39 and a two-hundred day moving average price of $95.67. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts expect that Modine Manufacturing will post 3.81 EPS for the current fiscal year.

Modine Manufacturing Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.