First Trust Advisors LP lessened its stake in Donaldson Company, Inc. (NYSE:DCI – Free Report) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,032,298 shares of the industrial products company’s stock after selling 6,491 shares during the quarter. First Trust Advisors LP owned approximately 0.89% of Donaldson worth $87,611,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in DCI. Leonteq Securities AG bought a new position in Donaldson during the 4th quarter valued at approximately $40,000. Eagle Bay Advisors LLC purchased a new stake in shares of Donaldson during the 4th quarter worth approximately $45,000. Clearstead Advisors LLC increased its position in shares of Donaldson by 92.6% during the 4th quarter. Clearstead Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 288 shares during the last quarter. Strive Financial Group LLC bought a new stake in Donaldson in the fourth quarter worth about $57,000. Finally, Sachetta LLC purchased a new stake in Donaldson in the 1st quarter valued at about $65,000. 82.81% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
DCI has been the topic of several recent analyst reports. Robert W. Baird cut their price objective 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. Weiss Ratings raised Donaldson from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Donaldson from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Stifel Nicolaus reduced their price target on Donaldson from $96.00 to $91.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Finally, Wells Fargo & Company set a $91.00 price objective on Donaldson in a report on Thursday, June 4th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.83.
Donaldson Stock Up 1.9%
NYSE:DCI opened at $92.88 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.55 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $86.72 and a 200-day moving average of $91.23. The firm has a market capitalization of $10.77 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. Donaldson Company, Inc. has a 52 week low of $70.17 and a 52 week high of $112.84.
Donaldson (NYSE:DCI – Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The business had revenue of $995.10 million during the quarter, compared to analyst estimates of $973.65 million. During the same period in the prior year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. Analysts predict that Donaldson Company, Inc. will post 3.96 EPS for the current year.
Donaldson Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Donaldson’s previous quarterly dividend of $0.30. Donaldson’s dividend payout ratio (DPR) is presently 34.41%.
About Donaldson
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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