Donaldson (NYSE:DCI) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Donaldson (NYSE:DCI) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Several other research firms have also issued reports on DCI. Robert W. Baird reduced their price objective on Donaldson from $80.00 to $79.00 and set an outperform rating on the stock in a research note on Monday, June 3rd. Raymond James initiated coverage on shares of Donaldson in a research report on Friday, June 28th. They issued a market perform rating on the stock. Finally, Stifel Nicolaus reduced their price target on Donaldson from $76.00 to $71.00 and set a hold rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $69.67.

Donaldson Price Performance

Shares of NYSE:DCI opened at $70.79 on Wednesday. The company’s fifty day moving average price is $72.45 and its 200-day moving average price is $72.72. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.30. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.89 and a beta of 1.05. Donaldson has a one year low of $57.05 and a one year high of $78.03.

Donaldson (NYSE:DCI) last released its earnings results on Tuesday, June 4th. The industrial products company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Donaldson had a return on equity of 29.47% and a net margin of 11.54%. The business had revenue of $927.90 million for the quarter, compared to analysts’ expectations of $915.84 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Donaldson will post 3.64 earnings per share for the current fiscal year.

Donaldson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 13th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Tuesday, August 13th. Donaldson’s dividend payout ratio is currently 33.44%.

Insider Activity at Donaldson

In other Donaldson news, CFO Scott J. Robinson sold 37,600 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $70.97, for a total value of $2,668,472.00. Following the completion of the transaction, the chief financial officer now owns 37,702 shares in the company, valued at $2,675,710.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Donaldson

A number of hedge funds and other institutional investors have recently bought and sold shares of DCI. Truist Financial Corp grew its stake in shares of Donaldson by 16.4% in the 2nd quarter. Truist Financial Corp now owns 5,697 shares of the industrial products company’s stock worth $408,000 after buying an additional 804 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Donaldson in the second quarter worth $202,000. Quarry LP increased its holdings in shares of Donaldson by 174.5% during the second quarter. Quarry LP now owns 1,650 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 1,049 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Donaldson by 185.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,269 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 825 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Donaldson by 1,554.0% in the 2nd quarter. Algert Global LLC now owns 146,346 shares of the industrial products company’s stock worth $10,473,000 after purchasing an additional 137,498 shares in the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Donaldson Company Profile

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through three segments: Mobile Solutions, Industrial Solutions, and Life Sciences. Its Mobile Solutions segment provides replacement filters for air and liquid filtration applications, such as air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.