Eastern Bank Takes Position in Donaldson Company, Inc. (NYSE:DCI)

Eastern Bank acquired a new stake in Donaldson Company, Inc. (NYSE:DCI) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 115,513 shares of the industrial products company’s stock, valued at approximately $8,513,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc boosted its holdings in Donaldson by 23.7% in the first quarter. TD Asset Management Inc now owns 1,920,651 shares of the industrial products company’s stock valued at $143,434,000 after acquiring an additional 367,705 shares during the last quarter. Eagle Ridge Investment Management bought a new stake in Donaldson in the first quarter valued at approximately $25,351,000. Heartland Advisors Inc. bought a new stake in Donaldson in the first quarter valued at approximately $17,016,000. Los Angeles Capital Management LLC bought a new stake in Donaldson in the second quarter valued at approximately $14,288,000. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Donaldson by 16.6% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,331,717 shares of the industrial products company’s stock worth $99,453,000 after buying an additional 190,024 shares in the last quarter. Institutional investors and hedge funds own 82.81% of the company’s stock.

Analysts Set New Price Targets

DCI has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price target on Donaldson from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. StockNews.com upgraded Donaldson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 28th. Finally, Raymond James initiated coverage on Donaldson in a report on Friday, June 28th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.67.

Insider Activity at Donaldson

In related news, Director Willard D. Oberton sold 2,700 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $73.37, for a total value of $198,099.00. Following the completion of the sale, the director now directly owns 27,983 shares of the company’s stock, valued at approximately $2,053,112.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Willard D. Oberton sold 2,700 shares of Donaldson stock in a transaction on Friday, October 4th. The stock was sold at an average price of $73.37, for a total transaction of $198,099.00. Following the sale, the director now directly owns 27,983 shares in the company, valued at $2,053,112.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott J. Robinson sold 83,600 shares of Donaldson stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.04, for a total value of $6,189,744.00. Following the sale, the chief financial officer now owns 37,702 shares in the company, valued at $2,791,456.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 167,805 shares of company stock valued at $12,310,222. 2.58% of the stock is owned by insiders.

Donaldson Stock Down 1.4 %

Shares of DCI traded down $1.07 during trading hours on Tuesday, reaching $74.06. The stock had a trading volume of 140,977 shares, compared to its average volume of 484,044. Donaldson Company, Inc. has a 12 month low of $57.05 and a 12 month high of $78.03. The firm has a 50-day simple moving average of $72.71 and a 200 day simple moving average of $72.90. The company has a current ratio of 1.84, a quick ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.92 and a beta of 1.04.

Donaldson (NYSE:DCI) last issued its earnings results on Wednesday, August 28th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Donaldson had a return on equity of 29.47% and a net margin of 11.54%. The company had revenue of $935.40 million for the quarter, compared to analysts’ expectations of $941.12 million. Equities research analysts predict that Donaldson Company, Inc. will post 3.63 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 13th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, August 13th. Donaldson’s dividend payout ratio is currently 33.44%.

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.