28,023 Donaldson Company, Inc. $DCI Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its Donaldson stake by 1.2%, selling 28,023 shares in the third quarter; it still held 2.28 million shares, valued at about $198.3 million.
• Donaldson beat quarterly estimates, reporting EPS of $1.15 versus $1.13 expected and revenue of $1.06 billion, up 8% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $101.67.

Pictet Asset Management Holding SA lessened its holdings in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,277,700 shares of the industrial products company's stock after selling 28,023 shares during the quarter. Pictet Asset Management Holding SA owned 1.97% of Donaldson worth $198,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Donaldson in the second quarter valued at $1,072,012,000. Bank of New York Mellon Corp grew its holdings in shares of Donaldson by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 1,222,704 shares of the industrial products company's stock valued at $103,771,000 after buying an additional 9,451 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Donaldson by 1.7% during the first quarter. Gabelli Funds LLC now owns 653,500 shares of the industrial products company's stock worth $55,463,000 after acquiring an additional 10,850 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Donaldson during the second quarter worth about $46,685,000. Finally, Jupiter Topco LLC bought a new stake in shares of Donaldson during the second quarter worth about $40,995,000. Institutional investors own 82.81% of the company's stock.

Donaldson Price Performance

DCI opened at $84.33 on Monday. Donaldson Company, Inc. has a 1 year low of $79.61 and a 1 year high of $112.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.08 and a quick ratio of 1.41. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 1.95 and a beta of 0.88. The firm's fifty day moving average price is $87.36 and its two-hundred day moving average price is $90.41.

Donaldson (NYSE:DCI - Get Free Report) last announced its earnings results on Tuesday, August 25th. The industrial products company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Donaldson had a net margin of 11.68% and a return on equity of 28.68%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Donaldson Company, Inc. will post 4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DCI. Morgan Stanley upped their target price on shares of Donaldson from $91.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 29th. Weiss Ratings raised shares of Donaldson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 20th. Stifel Nicolaus set a $95.00 price target on Donaldson in a research note on Friday, August 28th. Robert W. Baird boosted their price objective on Donaldson from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Finally, Wall Street Zen lowered Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Donaldson currently has an average rating of "Moderate Buy" and an average price target of $101.67.

Donaldson Company Profile

Donaldson Company, Inc is a global manufacturer of filtration systems and replacement parts. Founded in 1915, the company serves customers in industries including agriculture, construction, mining, transportation, manufacturing, and life sciences.

Its products include air, liquid, fuel, and lubricating-oil filters for engines and equipment, as well as dust-collection systems and filtration solutions for compressed air and gas. Donaldson also provides filtration technologies for applications such as food and beverage production, bioprocessing, and other life sciences uses.

Headquartered in Bloomington, Minnesota, Donaldson serves customers around the world through its manufacturing, distribution, and service operations.

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