Sumitomo Life Insurance Co. Purchases Shares of 12,875 Donaldson Company, Inc. $DCI

Sumitomo Life Insurance Co. acquired a new stake in shares of Donaldson Company, Inc. (NYSE:DCIFree Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,875 shares of the industrial products company’s stock, valued at approximately $1,156,000.

A number of other hedge funds have also modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in shares of Donaldson during the second quarter worth $3,139,000. Callan Family Office LLC purchased a new stake in shares of Donaldson during the second quarter valued at $3,949,000. Heartland Advisors Inc. acquired a new position in shares of Donaldson in the 2nd quarter valued at $11,893,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Donaldson in the 2nd quarter valued at $142,000. Finally, Allworth Financial LP purchased a new position in Donaldson in the 2nd quarter worth about $29,000. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird boosted their price objective on Donaldson from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Donaldson from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Wall Street Zen upgraded shares of Donaldson from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Stifel Nicolaus reduced their price target on shares of Donaldson from $96.00 to $91.00 and set a “hold” rating for the company in a research report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Donaldson presently has a consensus rating of “Moderate Buy” and an average price target of $99.50.

Get Our Latest Analysis on Donaldson

Donaldson Stock Up 0.8%

NYSE:DCI opened at $93.19 on Friday. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.11 and a beta of 0.92. Donaldson Company, Inc. has a 1-year low of $73.88 and a 1-year high of $112.84. 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 business’s fifty day moving average price is $91.30 and its 200 day moving average price is $90.77.

Donaldson (NYSE:DCIGet Free Report) last announced its quarterly earnings data on Monday, June 1st. The industrial products company reported $1.06 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 firm had revenue of $995.10 million during the quarter, compared to analyst estimates of $973.65 million. During the same period last year, the company posted $0.99 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that Donaldson Company, Inc. will post 3.96 earnings per share for the current fiscal year.

Donaldson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 17th. Donaldson’s dividend payout ratio is 34.41%.

Donaldson Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Donaldson (NYSE:DCI)

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