Bank of America Corp DE Acquires 128,913 Shares of Donaldson Company, Inc. $DCI

Key Points

• Bank of America increased its Donaldson stake by 41.2% in the first quarter, acquiring 128,913 shares for a total holding of 442,180 shares valued at approximately $37.5 million.
• Donaldson reported quarterly EPS of $1.06, beating estimates by $0.01, while revenue rose 5.9% year over year to $995.1 million. The stock recently traded at $95.72, with a consensus analyst rating of “Moderate Buy” and a $97.83 price target.
• Donaldson declared a quarterly dividend of $0.32, equivalent to $1.28 annually and a 1.3% yield. Institutional investors and hedge funds collectively own 82.81% of the company.

Bank of America Corp DE raised its holdings in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 41.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 442,180 shares of the industrial products company's stock after acquiring an additional 128,913 shares during the period. Bank of America Corp DE owned approximately 0.38% of Donaldson worth $37,528,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DCI. State Street Corp increased its holdings in Donaldson by 0.7% in the second quarter. State Street Corp now owns 5,221,808 shares of the industrial products company's stock valued at $362,132,000 after purchasing an additional 36,866 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Donaldson by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,846,214 shares of the industrial products company's stock valued at $252,386,000 after acquiring an additional 15,674 shares during the last quarter. Morgan Stanley raised its position in shares of Donaldson by 1.9% in the 4th quarter. Morgan Stanley now owns 2,542,166 shares of the industrial products company's stock valued at $225,389,000 after acquiring an additional 47,062 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Donaldson by 22.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,109,595 shares of the industrial products company's stock valued at $187,037,000 after acquiring an additional 380,419 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Donaldson by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,010,010 shares of the industrial products company's stock worth $178,224,000 after acquiring an additional 15,799 shares during the last quarter. Institutional investors and hedge funds own 82.81% of the company's stock.

Donaldson Stock Performance

Shares of DCI opened at $95.72 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.55 and a current ratio of 2.35. Donaldson Company, Inc. has a twelve month low of $72.95 and a twelve month high of $112.84. The firm's 50 day moving average price is $90.22 and its two-hundred day moving average price is $91.03. The firm has a market cap of $11.09 billion, a P/E ratio of 25.73, a PEG ratio of 2.20 and a beta of 0.92.

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 the consensus estimate of $1.05 by $0.01. The company had revenue of $995.10 million during the quarter, compared to the consensus estimate of $973.65 million. Donaldson had a net margin of 11.52% and a return on equity of 29.17%. The firm's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, analysts forecast that Donaldson Company, Inc. will post 3.96 EPS for the current fiscal year.

Donaldson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.28 annualized dividend and a dividend yield of 1.3%. Donaldson's dividend payout ratio (DPR) is currently 34.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DCI shares. Wall Street Zen upgraded shares of Donaldson from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a report on Thursday, June 4th. Stifel Nicolaus reduced their price target on shares of Donaldson from $96.00 to $91.00 and set a "hold" rating on the stock in a research report on Thursday, June 4th. Finally, Weiss Ratings raised shares of Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Donaldson has a consensus rating of "Moderate Buy" and a consensus price target of $97.83.

About Donaldson

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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