TD Asset Management Inc Lowers Position in Donaldson Company, Inc. (NYSE:DCI)

Key Points

• TD Asset Management Inc has reduced its stake in Donaldson Company, Inc. by 11.6%, selling 161,490 shares, and now owns 1.03% of the company, valued at $82.39 million.
• Donaldson reported earnings of $0.99 per share for the most recent quarter, exceeding expectations and reflecting a 1.3% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.30, with an annual yield of 1.67% and a payout ratio of 40.27%.

TD Asset Management Inc reduced its stake in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,228,575 shares of the industrial products company's stock after selling 161,490 shares during the quarter. TD Asset Management Inc owned about 1.03% of Donaldson worth $82,388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DCI. Colonial Trust Co SC acquired a new stake in Donaldson during the 4th quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new stake in Donaldson during the 1st quarter worth $29,000. Johnson Financial Group Inc. raised its stake in Donaldson by 48.8% during the 4th quarter. Johnson Financial Group Inc. now owns 595 shares of the industrial products company's stock worth $42,000 after acquiring an additional 195 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Donaldson during the 4th quarter worth $42,000. Finally, CX Institutional acquired a new stake in Donaldson during the 1st quarter worth $53,000. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on DCI shares. Stifel Nicolaus cut their price target on shares of Donaldson from $70.00 to $63.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reissued an "underweight" rating and set a $69.00 price objective (up from $65.00) on shares of Donaldson in a research report on Friday, June 6th. Robert W. Baird upped their target price on shares of Donaldson from $76.00 to $78.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen downgraded shares of Donaldson from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Donaldson Stock Performance

Shares of DCI traded up $0.10 during mid-day trading on Monday, hitting $72.03. 359,552 shares of the company's stock were exchanged, compared to its average volume of 470,115. Donaldson Company, Inc. has a fifty-two week low of $57.45 and a fifty-two week high of $78.95. The firm has a market capitalization of $8.39 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.87 and a beta of 0.98. The business's 50 day moving average is $69.94 and its two-hundred day moving average is $68.51. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44.

Donaldson (NYSE:DCI - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. Donaldson had a net margin of 9.94% and a return on equity of 28.86%. The business had revenue of $940.10 million during the quarter, compared to the consensus estimate of $936.02 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The business's quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts expect that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, August 12th. Donaldson's payout ratio is 40.27%.

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.