NewEdge Wealth LLC Purchases Shares of 19,769 Donaldson Company, Inc. $DCI

Key Points

• NewEdge Wealth purchased 19,769 shares of Donaldson, valued at approximately $1.775 million. Institutional investors and hedge funds collectively own 82.81% of the company.
• Donaldson reported quarterly EPS of $1.06, exceeding estimates by $0.01, while revenue rose 5.9% year over year to $995.1 million. Shares opened at $92.34, with analysts assigning a “Moderate Buy” rating and a consensus price target of $99.50.
• The company declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 1.4% yield.

NewEdge Wealth LLC purchased a new position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,769 shares of the industrial products company's stock, valued at approximately $1,775,000.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Donaldson by 3,094.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 44,377 shares of the industrial products company's stock valued at $3,934,000 after purchasing an additional 42,988 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Donaldson during the 4th quarter valued at about $1,494,000. Swedbank AB increased its stake in Donaldson by 2.6% in the 4th quarter. Swedbank AB now owns 528,100 shares of the industrial products company's stock valued at $46,821,000 after buying an additional 13,300 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Donaldson during the fourth quarter worth $2,004,000. Finally, Horizon Investments LLC bought a new stake in Donaldson in the fourth quarter worth approximately $4,154,000. Institutional investors and hedge funds own 82.81% of the company's stock.

Donaldson Trading Down 0.5%

Shares of NYSE DCI opened at $92.34 on Friday. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.12 and a beta of 0.92. Donaldson Company, Inc. has a twelve month low of $73.63 and a twelve month high of $112.84. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.35. The company's fifty day moving average is $91.16 and its 200-day moving average is $90.75.

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

Donaldson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Donaldson's dividend payout ratio (DPR) is presently 34.41%.

Wall Street Analysts Forecast Growth

DCI has been the subject of several research analyst reports. Wall Street Zen raised Donaldson from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. Wells Fargo & Company set a $91.00 price target on shares of Donaldson in a research note on Thursday, June 4th. Robert W. Baird raised their target price on Donaldson from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday. Weiss Ratings upgraded Donaldson from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus dropped 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. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $99.50.

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.

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