Donaldson (NYSE:DCI) Price Target Raised to $68.00

Donaldson (NYSE:DCI) had its price objective increased by Morgan Stanley from $67.00 to $68.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Stifel Nicolaus decreased their price target on Donaldson from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. StockNews.com upgraded shares of Donaldson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 28th. Finally, Robert W. Baird increased their target price on shares of Donaldson from $81.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.00.

Donaldson Trading Down 0.3 %

Shares of DCI opened at $72.82 on Wednesday. Donaldson has a 12-month low of $61.00 and a 12-month high of $78.95. The firm has a market capitalization of $8.72 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.91 and a beta of 1.04. The firm has a 50-day moving average price of $75.09 and a 200 day moving average price of $73.41. The company has a current ratio of 1.85, a quick ratio of 1.23 and a debt-to-equity ratio of 0.35.

Donaldson (NYSE:DCI) last posted its quarterly earnings results on Tuesday, December 3rd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $900.10 million during the quarter, compared to analysts’ expectations of $888.88 million. Donaldson had a net margin of 11.56% and a return on equity of 29.07%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. Sell-side analysts forecast that Donaldson will post 3.63 EPS for the current year.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Monday, December 9th. Donaldson’s dividend payout ratio (DPR) is 31.40%.

Insider Buying and Selling at Donaldson

In related news, CEO Tod E. Carpenter sold 30,919 shares of Donaldson stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $72.69, for a total value of $2,247,502.11. Following the completion of the transaction, the chief executive officer now directly owns 256,742 shares in the company, valued at approximately $18,662,575.98. This trade represents a 10.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott J. Robinson sold 83,600 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.04, for a total value of $6,189,744.00. Following the sale, the chief financial officer now owns 37,702 shares in the company, valued at approximately $2,791,456.08. This trade represents a 68.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 167,805 shares of company stock valued at $12,310,222 in the last three months. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Donaldson

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in Donaldson by 2.5% in the third quarter. Franklin Resources Inc. now owns 2,981,739 shares of the industrial products company’s stock valued at $220,380,000 after acquiring an additional 73,234 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Donaldson by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,448,879 shares of the industrial products company’s stock valued at $180,522,000 after purchasing an additional 118,156 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Donaldson by 1.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,884,187 shares of the industrial products company’s stock valued at $134,832,000 after purchasing an additional 32,964 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Donaldson by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 1,691,903 shares of the industrial products company’s stock worth $121,073,000 after purchasing an additional 75,733 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Donaldson by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,310,372 shares of the industrial products company’s stock worth $93,770,000 after purchasing an additional 153,342 shares in the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

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.