Vanguard Group Inc. Sells 127,993 Shares of Donaldson Company, Inc. (NYSE:DCI)

Key Points

• Vanguard Group Inc. reduced its stake in Donaldson Company, Inc. by 1.0%, selling 127,993 shares and holding a total of 12,589,296 shares valued at approximately $844 million.
• Donaldson Company reported an earnings per share (EPS) of $0.99 for the quarter, exceeding analyst expectations of $0.95, with a revenue of $940.10 million, reflecting a 1.3% year-over-year increase.
• The company declared a quarterly dividend of $0.30 per share, which will be paid on August 27, 2023, yielding an annualized dividend of 1.7%.

Vanguard Group Inc. lessened its position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,589,296 shares of the industrial products company's stock after selling 127,993 shares during the period. Vanguard Group Inc. owned approximately 10.53% of Donaldson worth $844,238,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird raised 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. 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. Finally, Wall Street Zen cut shares of Donaldson from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Donaldson Trading Down 1.2%

NYSE:DCI traded down $0.90 during trading hours on Friday, reaching $73.39. The company's stock had a trading volume of 384,902 shares, compared to its average volume of 482,502. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.81 and a beta of 0.99. The firm has a 50-day simple moving average of $70.85 and a 200-day simple moving average of $68.74. Donaldson Company, Inc. has a 1 year low of $57.45 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The business 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%. The company's revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Research analysts expect that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Dividend Announcement

The company also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 12th. Donaldson's dividend payout ratio (DPR) is 40.27%.

Donaldson Company 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.