Principal Financial Group Inc. reduced its position in Donaldson Company, Inc. (NYSE:DCI - Free Report) by 14.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 598,039 shares of the industrial products company's stock after selling 104,362 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Donaldson worth $40,105,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Donaldson by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,717,289 shares of the industrial products company's stock valued at $856,509,000 after acquiring an additional 33,139 shares during the period. FMR LLC lifted its position in shares of Donaldson by 6.2% during the 4th quarter. FMR LLC now owns 3,994,275 shares of the industrial products company's stock valued at $269,014,000 after acquiring an additional 231,424 shares during the period. Geode Capital Management LLC lifted its position in shares of Donaldson by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,520,586 shares of the industrial products company's stock valued at $169,804,000 after acquiring an additional 71,707 shares during the period. Fiduciary Management Inc. WI lifted its position in shares of Donaldson by 19.9% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,209,279 shares of the industrial products company's stock valued at $148,795,000 after acquiring an additional 367,383 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Donaldson by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,615,481 shares of the industrial products company's stock worth $108,804,000 after buying an additional 129,189 shares during the last quarter. 82.81% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on DCI shares. Robert W. Baird upped their price objective on shares of Donaldson from $76.00 to $78.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Wall Street Zen downgraded shares of Donaldson from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Stifel Nicolaus lowered their price objective on shares of Donaldson from $70.00 to $63.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley restated an "underweight" rating and set a $69.00 price objective (up previously from $65.00) on shares of Donaldson in a report on Friday, June 6th.
Check Out Our Latest Analysis on DCI
Donaldson Stock Performance
Shares of DCI traded up $0.75 during trading hours on Thursday, hitting $71.65. The company's stock had a trading volume of 676,691 shares, compared to its average volume of 562,087. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.84 and a beta of 0.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.94 and a quick ratio of 1.24. The business has a 50 day simple moving average of $69.30 and a two-hundred day simple moving average of $68.21. Donaldson Company, Inc. has a 52-week low of $57.45 and a 52-week high of $78.95.
Donaldson (NYSE:DCI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $940.10 million during the quarter, compared to analysts' expectations of $936.02 million. Donaldson had a net margin of 9.94% and a return on equity of 28.86%. Donaldson's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, equities analysts expect that Donaldson Company, Inc. will post 3.64 earnings per share for the current fiscal year.
Donaldson Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Donaldson's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.67%. Donaldson's payout ratio is presently 40.27%.
About Donaldson
(
Free Report)
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.
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