Wall Street Zen Upgrades Donaldson (NYSE:DCI) to Buy

Wall Street Zen upgraded shares of Donaldson (NYSE:DCI - Free Report) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other brokerages have also recently weighed in on DCI. Morgan Stanley reissued an "underweight" rating and set a $69.00 price objective (up from $65.00) on shares of Donaldson in a report on Friday, June 6th. Stifel Nicolaus reduced their price target on Donaldson from $70.00 to $63.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Robert W. Baird raised their price target on Donaldson from $76.00 to $78.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th.

Donaldson Price Performance

Shares of NYSE:DCI traded down $0.18 on Friday, hitting $69.39. The company's stock had a trading volume of 549,311 shares, compared to its average volume of 559,933. The company has a 50-day simple moving average of $68.34 and a 200 day simple moving average of $68.14. Donaldson has a 1 year low of $57.45 and a 1 year high of $78.95. The company has a market capitalization of $8.09 billion, a PE ratio of 23.29, a PEG ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.94 and a quick ratio of 1.24.

Donaldson (NYSE:DCI - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Donaldson had a return on equity of 28.86% and a net margin of 9.94%. The firm had revenue of $940.10 million for the quarter, compared to analysts' expectations of $936.02 million. During the same quarter last year, the firm posted $0.92 EPS. The company's revenue was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that Donaldson will post 3.64 EPS for the current fiscal year.

Donaldson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.30 dividend. This is a positive change from Donaldson's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, June 16th. Donaldson's dividend payout ratio (DPR) is currently 40.27%.

Insider Buying and Selling at Donaldson

In other news, Director James Owens sold 18,700 shares of Donaldson stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $62.02, for a total value of $1,159,774.00. Following the sale, the director directly owned 20,246 shares in the company, valued at approximately $1,255,656.92. This trade represents a 48.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Donaldson

A number of large investors have recently made changes to their positions in DCI. Truist Financial Corp grew its position in shares of Donaldson by 4.9% in the 4th quarter. Truist Financial Corp now owns 6,199 shares of the industrial products company's stock worth $417,000 after buying an additional 290 shares during the last quarter. IFP Advisors Inc grew its position in shares of Donaldson by 94.5% in the 4th quarter. IFP Advisors Inc now owns 2,745 shares of the industrial products company's stock worth $185,000 after buying an additional 1,334 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Donaldson by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,267,274 shares of the industrial products company's stock valued at $85,351,000 after purchasing an additional 92,624 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Donaldson during the fourth quarter valued at approximately $1,311,000. Finally, Versor Investments LP boosted its position in shares of Donaldson by 41.1% during the fourth quarter. Versor Investments LP now owns 7,900 shares of the industrial products company's stock valued at $532,000 after purchasing an additional 2,300 shares in the last quarter. 82.81% of the stock is currently owned by institutional investors.

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.