Panagora Asset Management Inc. grew its holdings in shares of Donaldson Company, Inc. (NYSE:DCI – Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,473 shares of the industrial products company’s stock after purchasing an additional 320 shares during the period. Panagora Asset Management Inc.’s holdings in Donaldson were worth $880,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of DCI. Inspire Investing LLC raised its position in Donaldson by 4.3% in the first quarter. Inspire Investing LLC now owns 4,172 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 173 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Donaldson by 7.1% in the 2nd quarter. Captrust Financial Advisors now owns 2,803 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 185 shares in the last quarter. Pathstone Family Office LLC lifted its stake in shares of Donaldson by 1.9% in the third quarter. Pathstone Family Office LLC now owns 10,355 shares of the industrial products company’s stock valued at $508,000 after purchasing an additional 192 shares during the period. Stonebridge Capital Advisors LLC boosted its holdings in Donaldson by 4.9% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 4,245 shares of the industrial products company’s stock worth $250,000 after buying an additional 200 shares in the last quarter. Finally, HB Wealth Management LLC grew its position in Donaldson by 5.5% during the first quarter. HB Wealth Management LLC now owns 4,444 shares of the industrial products company’s stock worth $290,000 after buying an additional 233 shares during the period. 80.35% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on DCI. StockNews.com upgraded Donaldson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Robert W. Baird lifted their price target on Donaldson from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 30th. Finally, Citigroup started coverage on shares of Donaldson in a research note on Tuesday, June 27th. They issued a “neutral” rating and a $66.00 price objective on the stock. They noted that the move was a valuation call.
Donaldson Stock Down 2.1 %
Shares of NYSE:DCI opened at $61.99 on Friday. The stock’s fifty day simple moving average is $62.34 and its 200-day simple moving average is $62.82. Donaldson Company, Inc. has a 52-week low of $48.17 and a 52-week high of $66.96. The company has a market capitalization of $7.52 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.88 and a beta of 1.18. The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 0.38.
Donaldson (NYSE:DCI – Get Free Report) last announced its earnings results on Tuesday, August 29th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $879.50 million for the quarter, compared to analyst estimates of $896.05 million. Donaldson had a net margin of 10.46% and a return on equity of 30.21%. Donaldson’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. As a group, equities research analysts forecast that Donaldson Company, Inc. will post 3.2 earnings per share for the current fiscal year.
Donaldson Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Monday, August 14th. Donaldson’s dividend payout ratio is currently 34.36%.
Insider Buying and Selling
In other news, CFO Scott J. Robinson sold 24,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.44, for a total transaction of $1,498,560.00. Following the completion of the sale, the chief financial officer now directly owns 27,670 shares in the company, valued at approximately $1,727,714.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Amy C. Becker sold 3,000 shares of Donaldson stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $63.84, for a total transaction of $191,520.00. Following the transaction, the insider now owns 35,809 shares in the company, valued at approximately $2,286,046.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott J. Robinson sold 24,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.44, for a total value of $1,498,560.00. Following the completion of the sale, the chief financial officer now directly owns 27,670 shares of the company’s stock, valued at approximately $1,727,714.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,300 shares of company stock valued at $3,371,965. Insiders own 2.77% of the company’s stock.
Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.
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