Armstrong Henry H Associates Inc. Has $1.43 Million Stock Holdings in Donaldson Company, Inc. $DCI

Key Points

• Armstrong Henry H Associates increased its Donaldson holdings by 467.1% in the second quarter, owning 15,880 shares valued at approximately $1.43 million. Institutional investors collectively own 82.81% of DCI’s outstanding stock.
• Donaldson exceeded quarterly expectations with earnings of $1.06 per share versus the $1.05 consensus estimate and revenue of $995.1 million, up 5.9% year over year.
• The company declared a quarterly dividend of $0.32, equivalent to an annualized $1.28 and a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.83.

Armstrong Henry H Associates Inc. raised its holdings in Donaldson Company, Inc. (NYSE:DCI - Free Report) by 467.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,880 shares of the industrial products company's stock after buying an additional 13,080 shares during the period. Armstrong Henry H Associates Inc.'s holdings in Donaldson were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Leonteq Securities AG bought a new stake in Donaldson during the fourth quarter worth $40,000. Eagle Bay Advisors LLC bought a new stake in shares of Donaldson during the 4th quarter worth $45,000. Clearstead Advisors LLC boosted its holdings in shares of Donaldson by 92.6% in the 4th quarter. Clearstead Advisors LLC now owns 599 shares of the industrial products company's stock worth $53,000 after buying an additional 288 shares during the last quarter. Strive Financial Group LLC bought a new position in Donaldson during the fourth quarter valued at about $57,000. Finally, Sachetta LLC bought a new position in Donaldson during the first quarter valued at about $65,000. 82.81% of the stock is owned by institutional investors.

Donaldson Stock Up 1.0%

Shares of NYSE DCI opened at $98.26 on Friday. The company has a market cap of $11.39 billion, a P/E ratio of 26.41, a P/E/G ratio of 2.22 and a beta of 0.92. Donaldson Company, Inc. has a 52 week low of $71.74 and a 52 week high of $112.84. The business has a 50-day simple moving average of $88.91 and a two-hundred day simple moving average of $91.18. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.35.

Donaldson (NYSE:DCI - Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.01. The company had revenue of $995.10 million for the quarter, compared to the consensus estimate of $973.65 million. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The firm's revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. Research analysts anticipate that Donaldson Company, Inc. will post 3.96 earnings per share for the current fiscal year.

Donaldson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 17th. Donaldson's dividend payout ratio is 34.41%.

Analysts Set New Price Targets

DCI has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their target price on shares of Donaldson from $96.00 to $91.00 and set a "hold" rating on the stock in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, June 3rd. Wells Fargo & Company set a $91.00 price objective on Donaldson in a research note on Thursday, June 4th. Finally, Wall Street Zen lowered Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Donaldson presently has an average rating of "Moderate Buy" and a consensus target price of $97.83.

Donaldson Company Profile

Donaldson Company, Inc NYSE: DCI is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson's product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.

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