Donaldson (NYSE:DCI) Shares Gap Down to $74.42

Donaldson Company, Inc. (NYSE:DCI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $74.42, but opened at $70.40. Donaldson shares last traded at $71.31, with a volume of 109,970 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Donaldson from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Raymond James assumed coverage on Donaldson in a research report on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.67.

Donaldson Price Performance

The company has a current ratio of 1.91, a quick ratio of 1.30 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $72.49 and its two-hundred day moving average price is $72.54. The stock has a market cap of $8.57 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Donaldson (NYSE:DCI) last issued its quarterly earnings results on Tuesday, June 4th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. Donaldson had a net margin of 11.22% and a return on equity of 29.00%. The company had revenue of $927.90 million during the quarter, compared to analysts’ expectations of $915.84 million. During the same period last year, the company posted $0.76 EPS. Donaldson’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Donaldson Company, Inc. will post 3.37 earnings per share for the current fiscal year.

Donaldson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Tuesday, August 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.08 annualized dividend and a yield of 1.52%. Donaldson’s payout ratio is 33.44%.

Insider Activity

In related news, CFO Scott J. Robinson sold 37,600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $70.97, for a total value of $2,668,472.00. Following the transaction, the chief financial officer now owns 37,702 shares of the company’s stock, valued at $2,675,710.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.58% of the company’s stock.

Hedge Funds Weigh In On Donaldson

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in Donaldson by 49.7% in the 4th quarter. Signaturefd LLC now owns 1,172 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 389 shares in the last quarter. GAMMA Investing LLC bought a new position in Donaldson during the fourth quarter valued at $55,000. Retirement Systems of Alabama increased its position in Donaldson by 1.5% during the fourth quarter. Retirement Systems of Alabama now owns 301,315 shares of the industrial products company’s stock valued at $19,691,000 after acquiring an additional 4,447 shares during the last quarter. Van ECK Associates Corp increased its position in Donaldson by 7.2% during the fourth quarter. Van ECK Associates Corp now owns 77,430 shares of the industrial products company’s stock valued at $5,060,000 after acquiring an additional 5,176 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. bought a new position in Donaldson during the fourth quarter valued at $209,000. 82.81% of the stock is owned by institutional investors.

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.