Donaldson Company, Inc. $DCI Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Donaldson stake by 4.3% in the third quarter, selling 41,951 shares. It retained 936,878 shares, worth approximately $82.2 million.
• Donaldson beat quarterly estimates, reporting EPS of $1.15 versus $1.13 expected and revenue of $1.06 billion versus $1.04 billion expected. Revenue rose 8% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $101.67; shares opened at $88.06 in the article.

Allspring Global Investments Holdings LLC reduced its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 936,878 shares of the industrial products company's stock after selling 41,951 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.81% of Donaldson worth $82,220,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in Donaldson in the 2nd quarter valued at $29,000. Trust Co. of Vermont acquired a new position in shares of Donaldson during the second quarter valued at about $31,000. Next Level Wealth Planning LLC bought a new stake in shares of Donaldson during the third quarter worth about $47,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Donaldson during the second quarter worth about $83,000. Finally, IFP Advisors Inc increased its position in shares of Donaldson by 9.9% during the third quarter. IFP Advisors Inc now owns 1,283 shares of the industrial products company's stock worth $112,000 after acquiring an additional 116 shares in the last quarter. 82.81% of the stock is owned by institutional investors and hedge funds.

Donaldson Price Performance

Donaldson stock opened at $88.06 on Tuesday. Donaldson Company, Inc. has a 12 month low of $79.61 and a 12 month high of $112.84. The company has a current ratio of 2.08, a quick ratio of 1.41 and a debt-to-equity ratio of 0.73. The business's 50 day simple moving average is $87.29 and its 200 day simple moving average is $90.34. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 1.97 and a beta of 0.88.

Donaldson (NYSE:DCI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The industrial products company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Donaldson had a return on equity of 28.68% and a net margin of 11.68%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. Sell-side analysts forecast that Donaldson Company, Inc. will post 4.33 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DCI shares. Stifel Nicolaus set a $95.00 target price on shares of Donaldson in a report on Friday, August 28th. 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 research note on Tuesday, September 29th. Wall Street Zen lowered shares of Donaldson from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Robert W. Baird increased their target price on shares of Donaldson from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Finally, Weiss Ratings raised shares of Donaldson from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.