Bank of America Corp DE Buys New Shares in Donaldson Company, Inc. $DCI

Key Points

• Bank of America acquired 520,056 Donaldson shares worth approximately $46.7 million, representing about 0.45% of the company. Institutional investors and hedge funds collectively own 82.81% of DCI.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $101.00, despite one recent downgrade to “Hold.”
• Donaldson exceeded quarterly expectations with EPS of $1.15 and revenue of $1.06 billion, while revenue increased 8% year over year. The company also pays a quarterly dividend of $0.32 per share, yielding approximately 1.5% annually.

Bank of America Corp DE bought a new position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 520,056 shares of the industrial products company's stock, valued at approximately $46,685,000. Bank of America Corp DE owned approximately 0.45% of Donaldson as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DCI. Allworth Financial LP bought a new stake in shares of Donaldson during the second quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in Donaldson in the 2nd quarter valued at $31,000. Leonteq Securities AG purchased a new position in Donaldson during the fourth quarter worth about $40,000. Clearstead Advisors LLC grew its position in 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 purchasing an additional 288 shares in the last quarter. Finally, Sachetta LLC purchased a new position in shares of Donaldson in the 1st quarter worth approximately $65,000. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DCI shares. Weiss Ratings raised 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 objective on shares of Donaldson in a research note on Friday, August 28th. Wells Fargo & Company set a $91.00 price target on Donaldson in a report on Thursday, June 4th. Wall Street Zen cut Donaldson from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Robert W. Baird increased their price target on shares of Donaldson from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.00.

Donaldson Stock Performance

NYSE:DCI opened at $86.39 on Monday. The business has a 50 day moving average price of $92.21 and a 200-day moving average price of $88.48. Donaldson Company, Inc. has a fifty-two week low of $79.42 and a fifty-two week high of $112.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.41 and a current ratio of 2.08. The firm has a market cap of $10.01 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.99 and a beta of 0.92.

Donaldson (NYSE:DCI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.03 EPS. Donaldson's revenue was up 8.0% compared to the same quarter last year. Donaldson has set its FY 2027 guidance at 4.220-4.380 EPS. Equities research analysts predict that Donaldson Company, Inc. will post 4.34 earnings per share for the current year.

Donaldson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.28 annualized dividend and a dividend yield of 1.5%. Donaldson's dividend payout ratio (DPR) is 33.25%.

Donaldson Company Profile

Donaldson Company, Inc NYSE: DCI is a global provider of filtration systems and replacement parts. Founded in 1915, the company develops products that help protect engines, equipment, manufacturing processes and people from airborne and liquid contaminants.

Donaldson's products include air and liquid filters, dust and fume collectors, hydraulic and process filtration systems, exhaust and emissions solutions, and replacement filtration parts. Its technologies are used in applications such as heavy-duty and off-road equipment, agriculture, construction, mining, transportation, power generation, manufacturing, and other industrial operations.

The company serves original equipment manufacturers, distributors and end users through operations and sales channels spanning North America, Europe, Asia-Pacific and other international markets.

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