Covea Finance Purchases 17,000 Shares of Donaldson Company, Inc. (NYSE:DCI)

Covea Finance lifted its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 38.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,000 shares of the industrial products company's stock after purchasing an additional 17,000 shares during the period. Covea Finance owned 0.05% of Donaldson worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in DCI. Sanctuary Advisors LLC increased its stake in Donaldson by 10.6% during the 4th quarter. Sanctuary Advisors LLC now owns 21,882 shares of the industrial products company's stock worth $1,568,000 after acquiring an additional 2,095 shares during the period. CIBC Asset Management Inc increased its stake in Donaldson by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,738 shares of the industrial products company's stock worth $252,000 after acquiring an additional 187 shares during the period. Truist Financial Corp increased its stake in Donaldson by 4.9% during the 4th quarter. Truist Financial Corp now owns 6,199 shares of the industrial products company's stock worth $417,000 after acquiring an additional 290 shares during the period. Venturi Wealth Management LLC increased its stake in Donaldson by 89.6% during the 4th quarter. Venturi Wealth Management LLC now owns 781 shares of the industrial products company's stock worth $53,000 after acquiring an additional 369 shares during the period. Finally, Private Advisor Group LLC increased its stake in Donaldson by 43.8% during the 4th quarter. Private Advisor Group LLC now owns 41,521 shares of the industrial products company's stock worth $2,796,000 after acquiring an additional 12,644 shares during the period. Institutional investors own 82.81% of the company's stock.

Donaldson Trading Down 0.5%

Shares of DCI stock opened at $68.06 on Friday. The stock's fifty day moving average price is $67.69 and its two-hundred day moving average price is $68.32. The company has a market cap of $7.93 billion, a PE ratio of 22.84, a P/E/G ratio of 1.78 and a beta of 0.99. Donaldson Company, Inc. has a fifty-two week low of $57.45 and a fifty-two week high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.94.

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

Donaldson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.30 per share. This is an increase from Donaldson's previous quarterly dividend of $0.27. The ex-dividend date is Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. Donaldson's dividend payout ratio (DPR) is 40.27%.

Insider Activity at Donaldson

In related news, Director James Owens sold 18,700 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $62.02, for a total transaction of $1,159,774.00. Following the sale, the director now owns 20,246 shares of the company's stock, valued at $1,255,656.92. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen lowered Donaldson from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Robert W. Baird raised their price objective on Donaldson from $76.00 to $78.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Stifel Nicolaus lowered their price objective on Donaldson from $70.00 to $63.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley restated an "underweight" rating and set a $69.00 price objective (up previously from $65.00) on shares of Donaldson in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $70.00.

About Donaldson

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.

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