Public Employees Retirement Association of Colorado Reduces Holdings in Donaldson Company, Inc. (NYSE:DCI)

Posted by Defense World Staff on Aug 13th, 2023

Public Employees Retirement Association of Colorado decreased its position in shares of Donaldson Company, Inc. (NYSE:DCI – Free Report) by 32.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,208 shares of the industrial products company’s stock after selling 5,454 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Donaldson were worth $732,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in DCI. Vanguard Group Inc. boosted its stake in shares of Donaldson by 0.8% during the third quarter. Vanguard Group Inc. now owns 12,570,319 shares of the industrial products company’s stock worth $616,072,000 after buying an additional 97,879 shares during the period. BlackRock Inc. boosted its stake in shares of Donaldson by 3.9% during the first quarter. BlackRock Inc. now owns 10,996,071 shares of the industrial products company’s stock worth $571,026,000 after buying an additional 413,360 shares during the period. State Street Corp lifted its position in Donaldson by 2.0% in the third quarter. State Street Corp now owns 6,900,690 shares of the industrial products company’s stock valued at $338,203,000 after purchasing an additional 132,979 shares during the period. Franklin Resources Inc. lifted its position in Donaldson by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 2,784,188 shares of the industrial products company’s stock valued at $163,905,000 after purchasing an additional 18,883 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Donaldson by 1.0% in the first quarter. Boston Trust Walden Corp now owns 2,630,900 shares of the industrial products company’s stock valued at $171,903,000 after purchasing an additional 25,960 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DCI. Morgan Stanley raised their price objective on shares of Donaldson from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, April 20th. StockNews.com raised shares of Donaldson from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 26th. Finally, Citigroup began coverage on shares of Donaldson in a report on Tuesday, June 27th. They issued a “neutral” rating and a $66.00 target price for the company. They noted that the move was a valuation call.

Get Our Latest Stock Analysis on DCI

Insider Buying and Selling at Donaldson

In other Donaldson news, CFO Scott J. Robinson sold 24,000 shares of Donaldson stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $62.44, for a total value of $1,498,560.00. Following the transaction, the chief financial officer now owns 27,670 shares in the company, valued at approximately $1,727,714.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.77% of the stock is owned by company insiders.

Donaldson Trading Up 0.6 %

Shares of DCI opened at $62.35 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.27. The firm has a 50 day simple moving average of $61.86 and a 200-day simple moving average of $62.89. Donaldson Company, Inc. has a 1-year low of $48.17 and a 1-year high of $66.96. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Donaldson (NYSE:DCI – Get Free Report) last issued its quarterly earnings data on Wednesday, May 31st. The industrial products company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $875.70 million during 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 last year, the company posted $0.67 EPS. Equities analysts forecast that Donaldson Company, Inc. will post 3.04 EPS for the current fiscal year.

Donaldson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. Donaldson’s dividend payout ratio (DPR) is presently 33.67%.

Donaldson Company Profile

(Free Report)

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.