Bank of New York Mellon Corp Buys 123,000 Shares of Donaldson Company, Inc. $DCI

Bank of New York Mellon Corp lifted its position in shares of Donaldson Company, Inc. (NYSE:DCI) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,283,326 shares of the industrial products company’s stock after acquiring an additional 123,000 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.11% of Donaldson worth $105,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in Donaldson by 0.7% during the 2nd quarter. State Street Corp now owns 5,221,808 shares of the industrial products company’s stock worth $362,132,000 after buying an additional 36,866 shares during the period. Boston Trust Walden Corp boosted its holdings in Donaldson by 7.8% in the second quarter. Boston Trust Walden Corp now owns 2,825,916 shares of the industrial products company’s stock valued at $195,977,000 after acquiring an additional 203,957 shares during the last quarter. Geode Capital Management LLC increased its position in Donaldson by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,821,115 shares of the industrial products company’s stock valued at $195,667,000 after purchasing an additional 21,334 shares during the period. American Century Companies Inc. raised its holdings in Donaldson by 3.6% during the 2nd quarter. American Century Companies Inc. now owns 1,545,416 shares of the industrial products company’s stock worth $107,175,000 after purchasing an additional 53,619 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Donaldson in the 2nd quarter worth approximately $68,759,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

Donaldson Trading Down 1.4%

NYSE DCI opened at $101.86 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.39 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $93.94 and a 200 day simple moving average of $84.64. Donaldson Company, Inc. has a 12 month low of $57.45 and a 12 month high of $103.78. The firm has a market capitalization of $11.75 billion, a P/E ratio of 31.73, a PEG ratio of 2.52 and a beta of 1.00.

Donaldson (NYSE:DCI) last posted its earnings results on Wednesday, December 3rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. The firm had revenue of $935.40 million for the quarter, compared to analysts’ expectations of $922.68 million. Donaldson had a net margin of 10.25% and a return on equity of 30.24%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 EPS. On average, analysts predict that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, February 12th. Donaldson’s dividend payout ratio is presently 37.38%.

Analysts Set New Price Targets

DCI has been the subject of several research analyst reports. Robert W. Baird set a $100.00 price objective on Donaldson in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Donaldson in a research note on Friday, January 9th. Stifel Nicolaus boosted their price target on Donaldson from $90.00 to $96.00 and gave the company a “hold” rating in a research note on Friday, December 5th. Jefferies Financial Group upgraded Donaldson from a “hold” rating to a “buy” rating and increased their price target for the stock from $92.00 to $120.00 in a report on Friday, January 9th. Finally, Morgan Stanley raised shares of Donaldson from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $72.00 to $84.00 in a research report on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Insider Activity at Donaldson

In related news, CFO Bradley J. Pogalz sold 566 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $91.57, for a total transaction of $51,828.62. Following the completion of the transaction, the chief financial officer owned 434 shares of the company’s stock, valued at approximately $39,741.38. The trade was a 56.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ajita G. Rajendra sold 19,800 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $92.04, for a total transaction of $1,822,392.00. Following the transaction, the director owned 43,993 shares of the company’s stock, valued at $4,049,115.72. This trade represents a 31.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by company insiders.

Donaldson Profile

Donaldson Company, Inc (NYSE: DCI) is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson’s product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.