Swedbank AB boosted its position in shares of Donaldson Company, Inc. (NYSE:DCI – Free Report) by 1.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 534,400 shares of the industrial products company’s stock after purchasing an additional 6,300 shares during the period. Swedbank AB’s holdings in Donaldson were worth $45,355,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of DCI. JPMorgan Chase & Co. lifted its stake in Donaldson by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 490,001 shares of the industrial products company’s stock worth $40,108,000 after purchasing an additional 25,156 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Donaldson by 3,094.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 44,377 shares of the industrial products company’s stock valued at $3,934,000 after purchasing an additional 42,988 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Donaldson in the 4th quarter valued at $1,494,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Donaldson during the 4th quarter worth $17,105,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Donaldson during the 4th quarter worth $2,004,000. 82.81% of the stock is owned by institutional investors.
Donaldson Stock Down 2.1%
Shares of DCI opened at $87.66 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.55 and a current ratio of 2.35. Donaldson Company, Inc. has a 52 week low of $69.03 and a 52 week high of $112.84. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.26 and a beta of 0.93. The stock has a fifty day moving average of $85.66 and a 200-day moving average of $91.29.
Donaldson Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. This is an increase from Donaldson’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, June 15th. Donaldson’s dividend payout ratio (DPR) is presently 34.41%.
Insider Buying and Selling at Donaldson
In other news, Director James Owens sold 13,753 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $89.21, for a total value of $1,226,905.13. Following the completion of the transaction, the director owned 22,565 shares of the company’s stock, valued at $2,013,023.65. This represents a 37.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 19,800 shares of company stock worth $1,765,184 in the last quarter. Insiders own 2.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Wells Fargo & Company set a $91.00 price objective on Donaldson in a research note on Thursday, June 4th. Wall Street Zen downgraded Donaldson from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Stifel Nicolaus dropped their target price on shares of Donaldson from $96.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Weiss Ratings upgraded shares of Donaldson from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Finally, Robert W. Baird decreased their price target on shares of Donaldson from $104.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.83.
Get Our Latest Analysis on DCI
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.
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