Granite Bay Wealth Management LLC Acquires Shares of 14,000 Donaldson Company, Inc. (NYSE:DCI)

Granite Bay Wealth Management LLC bought a new position in Donaldson Company, Inc. (NYSE:DCI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 14,000 shares of the industrial products company’s stock, valued at approximately $943,000.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in Donaldson by 8.5% in the second quarter. Victory Capital Management Inc. now owns 32,646 shares of the industrial products company’s stock worth $2,336,000 after purchasing an additional 2,569 shares during the period. Headlands Technologies LLC grew its stake in shares of Donaldson by 221.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,011 shares of the industrial products company’s stock worth $72,000 after buying an additional 696 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Donaldson by 0.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 162,553 shares of the industrial products company’s stock valued at $11,586,000 after buying an additional 674 shares in the last quarter. Federated Hermes Inc. raised its stake in Donaldson by 13.2% during the second quarter. Federated Hermes Inc. now owns 14,787 shares of the industrial products company’s stock valued at $1,058,000 after buying an additional 1,729 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Donaldson by 4.4% during the second quarter. Envestnet Asset Management Inc. now owns 123,025 shares of the industrial products company’s stock valued at $8,804,000 after buying an additional 5,129 shares during the last quarter. 82.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DCI has been the subject of several analyst reports. StockNews.com downgraded Donaldson from a “strong-buy” rating to a “buy” rating in a report on Monday. Morgan Stanley raised their price objective on shares of Donaldson from $67.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird lifted their target price on shares of Donaldson from $81.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.00.

Insider Buying and Selling at Donaldson

In related news, Director Trudy A. Rautio sold 14,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $67.60, for a total transaction of $946,400.00. Following the completion of the sale, the director now owns 26,420 shares in the company, valued at approximately $1,785,992. This represents a 34.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Donaldson Trading Up 0.7 %

Shares of NYSE:DCI opened at $66.99 on Tuesday. Donaldson Company, Inc. has a 1 year low of $62.77 and a 1 year high of $78.95. The stock’s fifty day moving average price is $72.50 and its 200-day moving average price is $72.64. The company has a market cap of $8.00 billion, a P/E ratio of 19.47, a PEG ratio of 1.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.85 and a quick ratio of 1.20.

Donaldson (NYSE:DCI) last posted its earnings results on Tuesday, December 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. Donaldson had a net margin of 11.56% and a return on equity of 29.07%. The business had revenue of $900.10 million for the quarter, compared to analysts’ expectations of $888.88 million. During the same quarter in the prior year, the business earned $0.75 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts expect that Donaldson Company, Inc. will post 3.64 earnings per share for the current year.

Donaldson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 9th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, December 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.61%. Donaldson’s dividend payout ratio is presently 31.40%.

Donaldson 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.