Donaldson (NYSE:DCI – Free Report) had its target price increased by Robert W. Baird from $67.00 to $69.00 in a research report report published on Wednesday morning, Marketbeat reports. The firm currently has an outperform rating on the industrial products company’s stock.
Other equities analysts have also recently issued research reports about the company. StockNews.com cut Donaldson from a strong-buy rating to a buy rating in a report on Wednesday, August 16th. Citigroup started coverage on Donaldson in a report on Tuesday, June 27th. They set a neutral rating and a $66.00 target price for the company. They noted that the move was a valuation call.
Donaldson Stock Up 1.5 %
Donaldson (NYSE:DCI – Get Free Report) last issued its quarterly earnings results on Tuesday, August 29th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $879.50 million for the quarter, compared to the consensus estimate of $896.05 million. Donaldson had a return on equity of 32.06% and a net margin of 10.69%. Donaldson’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, sell-side analysts predict that Donaldson will post 3.04 EPS for the current year.
Donaldson Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 15th were issued a $0.25 dividend. The ex-dividend date was Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. Donaldson’s dividend payout ratio (DPR) is presently 33.67%.
Insider Activity at Donaldson
In related news, Director Douglas A. Milroy sold 26,300 shares of Donaldson stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $63.95, for a total value of $1,681,885.00. Following the completion of the transaction, the director now directly owns 2,824 shares in the company, valued at $180,594.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Amy C. Becker sold 3,000 shares of Donaldson stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $63.84, for a total transaction of $191,520.00. Following the sale, the insider now owns 35,809 shares in the company, valued at $2,286,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas A. Milroy sold 26,300 shares of Donaldson stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $63.95, for a total value of $1,681,885.00. Following the sale, the director now owns 2,824 shares in the company, valued at approximately $180,594.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,300 shares of company stock worth $3,371,965. Company insiders own 2.77% of the company’s stock.
Hedge Funds Weigh In On Donaldson
Several institutional investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its holdings in Donaldson by 9.0% in the 1st quarter. Ballentine Partners LLC now owns 4,372 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 361 shares in the last quarter. Truist Financial Corp purchased a new stake in Donaldson in the 1st quarter valued at approximately $335,000. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Donaldson by 30.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 91,816 shares of the industrial products company’s stock valued at $5,405,000 after purchasing an additional 21,692 shares in the last quarter. Dfpg Investments LLC boosted its holdings in Donaldson by 11.6% in the 1st quarter. Dfpg Investments LLC now owns 4,885 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 508 shares in the last quarter. Finally, Brinker Capital Investments LLC boosted its holdings in Donaldson by 302.2% in the 4th quarter. Brinker Capital Investments LLC now owns 20,341 shares of the industrial products company’s stock valued at $1,197,000 after purchasing an additional 15,283 shares in the last quarter. Institutional investors and hedge funds own 80.35% of the company’s stock.
Donaldson Company Profile
Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.
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