Donaldson (NYSE:DCI) Price Target Raised to $78.00

Donaldson (NYSE:DCI) had its price target raised by Robert W. Baird from $76.00 to $78.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen cut Donaldson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus cut their price target on Donaldson from $70.00 to $63.00 and set a “hold” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Donaldson Trading Up 0.8%

Shares of NYSE:DCI opened at $70.39 on Wednesday. Donaldson has a 12-month low of $57.45 and a 12-month high of $78.95. The stock has a market cap of $8.41 billion, a PE ratio of 20.46, a P/E/G ratio of 1.82 and a beta of 1.01. The business has a 50 day moving average of $66.36 and a 200-day moving average of $68.86. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.35.

Donaldson (NYSE:DCI) last issued its quarterly earnings data on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Donaldson had a return on equity of 29.07% and a net margin of 11.56%. The company had revenue of $940.10 million during the quarter, compared to analysts’ expectations of $936.02 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Donaldson will post 3.64 earnings per share for the current year.

Donaldson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.30 per share. This is an increase from Donaldson’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, June 16th. Donaldson’s payout ratio is currently 31.58%.

Insider Buying and Selling at Donaldson

In other Donaldson news, Director James Owens sold 18,700 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $62.02, for a total transaction of $1,159,774.00. Following the completion of the transaction, the director now directly owns 20,246 shares in the company, valued at $1,255,656.92. The trade was a 48.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Thomas R. Scalf sold 28,500 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $69.22, for a total transaction of $1,972,770.00. Following the transaction, the president now owns 28,334 shares of the company’s stock, valued at approximately $1,961,279.48. This represents a 50.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DCI. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Donaldson by 75.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,330,602 shares of the industrial products company’s stock worth $223,350,000 after buying an additional 1,430,120 shares in the last quarter. Norges Bank acquired a new position in shares of Donaldson during the fourth quarter worth $65,828,000. Capital Counsel LLC NY increased its holdings in shares of Donaldson by 489.2% during the fourth quarter. Capital Counsel LLC NY now owns 656,957 shares of the industrial products company’s stock worth $44,246,000 after buying an additional 545,457 shares in the last quarter. Fiduciary Management Inc. WI increased its holdings in shares of Donaldson by 19.9% during the fourth quarter. Fiduciary Management Inc. WI now owns 2,209,279 shares of the industrial products company’s stock worth $148,795,000 after buying an additional 367,383 shares in the last quarter. Finally, Carnegie Investment Counsel acquired a new position in shares of Donaldson during the first quarter worth $23,147,000. 82.81% of the stock is currently owned by institutional investors and hedge funds.

About Donaldson

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.