Eastern Bank Sells 71,228 Shares of Donaldson Company, Inc. (NYSE:DCI)

Eastern Bank cut its holdings in Donaldson Company, Inc. (NYSE:DCI - Free Report) by 83.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,264 shares of the industrial products company's stock after selling 71,228 shares during the quarter. Eastern Bank's holdings in Donaldson were worth $957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Colonial Trust Co SC purchased a new stake in shares of Donaldson in the 4th quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in Donaldson during the 1st quarter valued at $29,000. Johnson Financial Group Inc. lifted its holdings in shares of Donaldson by 48.8% in the fourth quarter. Johnson Financial Group Inc. now owns 595 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 195 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Donaldson in the fourth quarter worth $42,000. Finally, CX Institutional purchased a new position in shares of Donaldson during the first quarter valued at $53,000. 82.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on DCI. Stifel Nicolaus decreased their price objective on Donaldson from $70.00 to $63.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Wall Street Zen cut shares of Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Robert W. Baird boosted their price objective on shares of Donaldson from $76.00 to $78.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $69.00 target price (up previously from $65.00) on shares of Donaldson in a research report on Friday, June 6th.

Donaldson Stock Down 1.5%

Shares of Donaldson stock traded down $1.10 during trading on Friday, hitting $70.87. 527,117 shares of the stock traded hands, compared to its average volume of 489,260. The stock has a market cap of $8.26 billion, a P/E ratio of 23.78, a PEG ratio of 1.84 and a beta of 0.99. The company has a fifty day moving average price of $70.15 and a two-hundred day moving average price of $68.61. Donaldson Company, Inc. has a twelve month low of $57.45 and a twelve month 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 announced its quarterly earnings results on Tuesday, June 3rd. The industrial products company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $940.10 million for the quarter, compared to analyst estimates of $936.02 million. Donaldson had a net margin of 9.94% and a return on equity of 28.86%. Donaldson's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. Equities research analysts predict that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Donaldson's dividend payout ratio (DPR) is 40.27%.

Donaldson Profile

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.