Eastern Bank Cuts Stock Position in Donaldson Company, Inc. (NYSE:DCI)

Eastern Bank cut its holdings in Donaldson Company, Inc. (NYSE:DCI) by 83.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,264 shares of the industrial products company’s stock after selling 71,228 shares during the quarter. Eastern Bank’s holdings in Donaldson were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DCI. LPL Financial LLC boosted its stake in Donaldson by 2.2% during the fourth quarter. LPL Financial LLC now owns 67,805 shares of the industrial products company’s stock worth $4,567,000 after buying an additional 1,473 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Donaldson by 7.1% during the fourth quarter. JPMorgan Chase & Co. now owns 470,602 shares of the industrial products company’s stock worth $31,695,000 after buying an additional 31,064 shares during the last quarter. Norges Bank acquired a new position in Donaldson during the fourth quarter worth $65,828,000. Pictet Asset Management Holding SA boosted its stake in Donaldson by 5.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 16,074 shares of the industrial products company’s stock worth $1,083,000 after buying an additional 843 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in Donaldson by 40.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 32,020 shares of the industrial products company’s stock worth $2,157,000 after buying an additional 9,159 shares during the last quarter. 82.81% of the stock is currently owned by hedge funds and other institutional investors.

Donaldson Stock Performance

Shares of Donaldson stock opened at $72.06 on Thursday. Donaldson Company, Inc. has a 52 week low of $57.45 and a 52 week high of $78.95. The business’s fifty day simple moving average is $70.03 and its 200-day simple moving average is $68.56. The firm has a market cap of $8.40 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 1.87 and a beta of 0.98. 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 (NYSE:DCI) last posted its earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the company earned $0.92 EPS. Donaldson’s revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.67%. The ex-dividend date is Tuesday, August 12th. Donaldson’s payout ratio is 40.27%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DCI. Robert W. Baird boosted their price objective on Donaldson from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Morgan Stanley reissued an “underweight” rating and set a $69.00 price objective (up previously from $65.00) on shares of Donaldson in a research note on Friday, June 6th. Wall Street Zen lowered Donaldson from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Stifel Nicolaus decreased their price target on Donaldson from $70.00 to $63.00 and set a “hold” rating on the stock in a research note on Monday, April 14th.

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.