Brokers Offer Predictions for Donaldson Company, Inc.’s FY2024 Earnings (NYSE:DCI)

Posted by Defense World Staff on Jun 5th, 2023

Donaldson Company, Inc. (NYSE:DCI – Get Rating) – Research analysts at William Blair boosted their FY2024 earnings estimates for Donaldson in a research note issued to investors on Thursday, June 1st. William Blair analyst B. Drab now forecasts that the industrial products company will earn $3.27 per share for the year, up from their previous forecast of $3.23. The consensus estimate for Donaldson’s current full-year earnings is $3.05 per share.

Donaldson (NYSE:DCI – Get Rating) last issued its quarterly earnings results on Wednesday, May 31st. The industrial products company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $875.70 million for the quarter, compared to analysts’ expectations of $871.53 million. Donaldson had a net margin of 10.69% and a return on equity of 32.06%. During the same period in the previous year, the firm posted $0.67 EPS.

DCI has been the subject of a number of other research reports. Morgan Stanley lifted their target price on Donaldson from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Robert W. Baird lifted their target price on Donaldson from $66.00 to $69.00 in a report on Friday, March 3rd. Finally, StockNews.com downgraded shares of Donaldson from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Donaldson Trading Up 0.7 %

Shares of NYSE:DCI opened at $59.58 on Monday. The company has a 50-day simple moving average of $63.32 and a 200 day simple moving average of $62.24. Donaldson has a 52-week low of $46.00 and a 52-week high of $66.96. The company has a market capitalization of $7.23 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.46 and a current ratio of 1.90.

Donaldson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Wednesday, June 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, June 6th. This is an increase from Donaldson’s previous quarterly dividend of $0.23. Donaldson’s payout ratio is currently 30.98%.

Insider Buying and Selling at Donaldson

In other news, Director Christopher M. Hilger purchased 3,186 shares of the company’s stock in a transaction that occurred on Tuesday, April 11th. The shares were bought at an average price of $62.76 per share, for a total transaction of $199,953.36. Following the purchase, the director now directly owns 7,872 shares in the company, valued at approximately $494,046.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DCI. Belpointe Asset Management LLC purchased a new position in Donaldson in the 4th quarter worth approximately $32,000. Bessemer Group Inc. increased its stake in shares of Donaldson by 521.3% in the first quarter. Bessemer Group Inc. now owns 497 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 417 shares during the period. Fred Alger Management LLC acquired a new stake in Donaldson during the third quarter worth about $35,000. Ronald Blue Trust Inc. increased its position in shares of Donaldson by 217.5% in the fourth quarter. Ronald Blue Trust Inc. now owns 797 shares of the industrial products company’s stock valued at $39,000 after buying an additional 546 shares in the last quarter. Finally, Affiance Financial LLC acquired a new stake in Donaldson in the 4th quarter valued at $41,000. 80.10% of the stock is owned by hedge funds and other institutional investors.

About Donaldson

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Donaldson Co, Inc engages in the manufacture of filtration systems and replacement parts. It operates through the following segments: Engine Products and Industrial Products. The Engine Products segment includes replacement filters for both air and liquid filtration applications, air filtration systems, liquid filtration systems for fuel, lube and hydraulic applications, and exhaust and emissions systems.

Earnings History and Estimates for Donaldson (NYSE:DCI)

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