AXQ Capital LP Purchases New Shares in Donaldson Company, Inc. $DCI

AXQ Capital LP acquired a new position in shares of Donaldson Company, Inc. (NYSE:DCI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,598 shares of the industrial products company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DCI. State Street Corp raised its holdings in shares of Donaldson by 0.7% during the second quarter. State Street Corp now owns 5,221,808 shares of the industrial products company’s stock valued at $362,132,000 after acquiring an additional 36,866 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Donaldson by 0.8% during the second quarter. Geode Capital Management LLC now owns 2,821,115 shares of the industrial products company’s stock worth $195,667,000 after purchasing an additional 21,334 shares in the last quarter. American Century Companies Inc. lifted its holdings in Donaldson by 3.6% in the 2nd quarter. American Century Companies Inc. now owns 1,545,416 shares of the industrial products company’s stock valued at $107,175,000 after purchasing an additional 53,619 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Donaldson by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,283,326 shares of the industrial products company’s stock valued at $105,040,000 after purchasing an additional 123,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in Donaldson during the 2nd quarter worth $68,759,000. 82.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Donaldson

In related news, CFO Bradley J. Pogalz sold 566 shares of the 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. This trade represents a 56.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ajita G. Rajendra sold 19,800 shares of Donaldson stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.20% of the company’s stock.

Donaldson Stock Performance

Shares of Donaldson stock opened at $106.77 on Wednesday. The firm has a market cap of $12.31 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 2.64 and a beta of 1.00. The company has a quick ratio of 1.39, a current ratio of 2.15 and a debt-to-equity ratio of 0.44. Donaldson Company, Inc. has a 52 week low of $57.45 and a 52 week high of $112.84. The business’s fifty day simple moving average is $99.71 and its 200-day simple moving average is $88.97.

Donaldson (NYSE:DCI) last issued its quarterly earnings data on Wednesday, December 3rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Donaldson had a return on equity of 30.24% and a net margin of 10.25%.The firm had revenue of $935.40 million during the quarter, compared to the consensus estimate of $922.68 million. During the same period last year, the company earned $0.83 EPS. The company’s quarterly revenue was up 3.9% 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, February 12th. Donaldson’s dividend payout ratio is currently 37.38%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DCI. Morgan Stanley upgraded shares of Donaldson from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $72.00 to $84.00 in a research report on Monday, November 24th. UBS Group set a $96.00 price objective on shares of Donaldson in a report on Tuesday. Robert W. Baird set a $110.00 target price on Donaldson in a report on Monday, February 2nd. Stifel Nicolaus upped their price target on Donaldson from $90.00 to $96.00 and gave the company a “hold” rating in a research report on Friday, December 5th. Finally, Jefferies Financial Group lifted their price objective on Donaldson to $123.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Donaldson presently has a consensus rating of “Moderate Buy” and an average target price of $101.80.

Donaldson Company 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.