Fifth Third Bancorp Purchases 278 Shares of Donaldson Company, Inc. (NYSE:DCI)

Fifth Third Bancorp boosted its position in Donaldson Company, Inc. (NYSE:DCI) by 29.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,229 shares of the industrial products company’s stock after acquiring an additional 278 shares during the quarter. Fifth Third Bancorp’s holdings in Donaldson were worth $82,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Donaldson in the 4th quarter valued at $65,828,000. Capital Counsel LLC NY grew its position in Donaldson by 489.2% in the fourth quarter. Capital Counsel LLC NY now owns 656,957 shares of the industrial products company’s stock valued at $44,246,000 after acquiring an additional 545,457 shares during the last quarter. Fiduciary Management Inc. WI grew its position in Donaldson by 19.9% in the fourth quarter. Fiduciary Management Inc. WI now owns 2,209,279 shares of the industrial products company’s stock valued at $148,795,000 after acquiring an additional 367,383 shares during the last quarter. Invesco Ltd. grew its position in Donaldson by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,512,667 shares of the industrial products company’s stock valued at $101,878,000 after acquiring an additional 299,302 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in Donaldson by 70.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 626,776 shares of the industrial products company’s stock valued at $42,214,000 after acquiring an additional 258,800 shares during the last quarter. 82.81% of the stock is owned by institutional investors.

Insider Activity

In related news, Director James Owens sold 18,700 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $62.02, for a total transaction of $1,159,774.00. Following the sale, the director now owns 20,246 shares in the company, valued at $1,255,656.92. This represents a 48.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Donaldson Stock Performance

Shares of Donaldson stock opened at $68.06 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 0.44. Donaldson Company, Inc. has a twelve month low of $57.45 and a twelve month high of $78.95. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.78 and a beta of 0.99. The company’s fifty day moving average is $67.69 and its 200 day moving average is $68.32.

Donaldson (NYSE:DCI) last released its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. Donaldson had a return on equity of 28.86% and a net margin of 9.94%. The firm had revenue of $940.10 million for the quarter, compared to analyst estimates of $936.02 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current year.

Donaldson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.30 dividend. This is a positive change from Donaldson’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, June 16th. Donaldson’s dividend payout ratio is currently 40.27%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DCI shares. Wall Street Zen lowered shares of Donaldson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Morgan Stanley reaffirmed an “underweight” rating and set a $69.00 target price (up previously from $65.00) on shares of Donaldson in a research note on Friday, June 6th. Stifel Nicolaus decreased their target price on shares of Donaldson from $70.00 to $63.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird boosted their target price on shares of Donaldson from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $70.00.

Donaldson Company Profile

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.