Hsbc Holdings PLC Boosts Stock Holdings in Donaldson Company, Inc. $DCI

Key Points

• Hsbc Holdings PLC increased its stake in Donaldson Company by 53.1% in the first quarter, buying 20,118 additional shares and bringing its total holdings to 58,011 shares worth about $4.9 million.
• Analysts remain broadly positive on DCI, with the stock carrying a Moderate Buy consensus rating and a target price of $97.83 despite a few recent target cuts and downgrades.
• Donaldson reported better-than-expected earnings for the quarter, increased its quarterly dividend to $0.32 per share from $0.30, and the stock was trading around $92.88 with a 1.4% dividend yield.

Hsbc Holdings PLC raised its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 53.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,011 shares of the industrial products company's stock after purchasing an additional 20,118 shares during the period. Hsbc Holdings PLC owned 0.05% of Donaldson worth $4,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of DCI. Verdence Capital Advisors LLC raised its stake in shares of Donaldson by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 8,603 shares of the industrial products company's stock valued at $763,000 after buying an additional 101 shares during the period. TIAA Trust National Association grew its stake in shares of Donaldson by 2.0% during the 4th quarter. TIAA Trust National Association now owns 5,589 shares of the industrial products company's stock worth $496,000 after acquiring an additional 108 shares during the period. Perigon Wealth Management LLC increased its holdings in Donaldson by 3.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,440 shares of the industrial products company's stock worth $305,000 after acquiring an additional 118 shares during the last quarter. Signaturefd LLC increased its holdings in Donaldson by 9.6% in the 4th quarter. Signaturefd LLC now owns 1,403 shares of the industrial products company's stock worth $124,000 after acquiring an additional 123 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in Donaldson by 3.8% in the 1st quarter. HB Wealth Management LLC now owns 3,502 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 129 shares during the period. 82.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DCI shares. Stifel Nicolaus cut their target price on shares of Donaldson from $96.00 to $91.00 and set a "hold" rating for the company in a research report on Thursday, June 4th. Wells Fargo & Company set a $91.00 price target on shares of Donaldson in a research report on Thursday, June 4th. Robert W. Baird dropped their price target on shares of Donaldson from $104.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, March 30th. Weiss Ratings raised shares of Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Donaldson from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.83.

Donaldson Trading Up 1.9%

Shares of DCI stock opened at $92.88 on Friday. The company has a market capitalization of $10.77 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. Donaldson Company, Inc. has a 52-week low of $70.17 and a 52-week high of $112.84. The business's fifty day moving average is $86.72 and its 200 day moving average is $91.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.55 and a current ratio of 2.35.

Donaldson (NYSE:DCI - Get Free Report) last posted its earnings results on Monday, June 1st. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. The business had revenue of $995.10 million during the quarter, compared to analysts' expectations of $973.65 million. Donaldson had a return on equity of 29.17% and a net margin of 11.52%.The firm's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that Donaldson Company, Inc. will post 3.96 EPS for the current fiscal year.

Donaldson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Donaldson's previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 1.4%. Donaldson's payout ratio is presently 34.41%.

About Donaldson

Donaldson Company, Inc NYSE: DCI is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson's product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.

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.