JPMorgan Chase & Co. Has $128.24 Million Stock Position in Modine Manufacturing (NYSE:MOD)

JPMorgan Chase & Co. lessened its stake in Modine Manufacturing (NYSE:MOD) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 965,695 shares of the auto parts company’s stock after selling 287,318 shares during the quarter. JPMorgan Chase & Co.’s holdings in Modine Manufacturing were worth $128,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new stake in Modine Manufacturing in the second quarter valued at $68,000. Private Trust Co. NA lifted its stake in Modine Manufacturing by 650.5% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after purchasing an additional 670 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in Modine Manufacturing by 9.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new position in Modine Manufacturing during the second quarter worth approximately $118,000. Finally, Farther Finance Advisors LLC raised its stake in Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after buying an additional 491 shares during the period. 95.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MOD has been the subject of several research analyst reports. Oppenheimer lifted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. DA Davidson upped their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $115.93 on Thursday. The business’s 50 day moving average is $127.20 and its 200-day moving average is $117.97. The firm has a market cap of $6.09 billion, a P/E ratio of 38.01, a price-to-earnings-growth ratio of 1.01 and a beta of 2.31. Modine Manufacturing has a 1-year low of $57.19 and a 1-year high of $146.84. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. During the same quarter last year, the business earned $0.89 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Modine Manufacturing will post 3.83 earnings per share for the current year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.