New York State Teachers Retirement System Cuts Stake in Donaldson Company, Inc. (NYSE:DCI)

New York State Teachers Retirement System reduced its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,732 shares of the industrial products company’s stock after selling 2,602 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Donaldson worth $9,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Donaldson in the fourth quarter valued at $63,086,000. Granite Bay Wealth Management LLC purchased a new position in shares of Donaldson in the third quarter valued at $56,540,000. State Street Corp grew its holdings in shares of Donaldson by 13.9% in the second quarter. State Street Corp now owns 6,767,711 shares of the industrial products company’s stock valued at $325,798,000 after purchasing an additional 824,842 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Donaldson by 3.9% in the first quarter. BlackRock Inc. now owns 10,996,071 shares of the industrial products company’s stock valued at $571,026,000 after purchasing an additional 413,360 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Donaldson by 44.7% during the fourth quarter. Morgan Stanley now owns 1,308,238 shares of the industrial products company’s stock worth $77,016,000 after buying an additional 404,335 shares during the period. 82.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Thomas R. Scalf sold 7,680 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $71.09, for a total transaction of $545,971.20. Following the completion of the sale, the president now directly owns 34,334 shares of the company’s stock, valued at $2,440,804.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Thomas R. Scalf sold 7,680 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $71.09, for a total value of $545,971.20. Following the completion of the sale, the president now directly owns 34,334 shares of the company’s stock, valued at $2,440,804.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Willard D. Oberton sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $73.54, for a total transaction of $330,930.00. Following the completion of the sale, the director now directly owns 27,685 shares of the company’s stock, valued at $2,035,954.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,407 shares of company stock valued at $5,817,942. 2.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DCI shares. StockNews.com raised shares of Donaldson from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 7th. Robert W. Baird lifted their price objective on shares of Donaldson from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley started coverage on shares of Donaldson in a research note on Monday, January 8th. They set an “underweight” rating and a $59.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.50.

Donaldson Stock Up 0.2 %

Shares of DCI opened at $74.30 on Friday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.17 and a beta of 1.10. Donaldson Company, Inc. has a 12-month low of $57.05 and a 12-month high of $75.44. The company has a current ratio of 1.47, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $71.04 and a 200-day moving average price of $64.93.

Donaldson (NYSE:DCI) last issued its earnings results on Wednesday, February 28th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The firm had revenue of $876.70 million during the quarter, compared to analyst estimates of $874.34 million. Donaldson had a net margin of 10.82% and a return on equity of 28.52%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities research analysts expect that Donaldson Company, Inc. will post 3.28 earnings per share for the current year.

Donaldson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, February 9th. Donaldson’s dividend payout ratio is currently 32.57%.

About Donaldson

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.