Donaldson Company, Inc. $DCI Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 182,157 shares of the industrial products company’s stock after selling 37,691 shares during the quarter. Legal & General Group Plc’s holdings in Donaldson were worth $16,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Donaldson by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 490,001 shares of the industrial products company’s stock worth $40,108,000 after purchasing an additional 25,156 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Donaldson by 3,094.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 44,377 shares of the industrial products company’s stock worth $3,934,000 after purchasing an additional 42,988 shares during the period. Bank of New York Mellon Corp raised its position in shares of Donaldson by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,283,326 shares of the industrial products company’s stock worth $105,040,000 after purchasing an additional 123,000 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Donaldson during the 4th quarter worth approximately $1,494,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Donaldson by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,994,211 shares of the industrial products company’s stock worth $163,218,000 after purchasing an additional 20,478 shares during the period. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James Owens sold 13,753 shares of Donaldson stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $89.21, for a total transaction of $1,226,905.13. Following the transaction, the director directly owned 22,565 shares in the company, valued at approximately $2,013,023.65. This trade represents a 37.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 19,800 shares of company stock worth $1,765,184. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DCI. Morgan Stanley dropped their price target on Donaldson from $93.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Robert W. Baird dropped their price target on Donaldson from $104.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Weiss Ratings cut Donaldson from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 15th. Jefferies Financial Group increased their price target on Donaldson to $123.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, UBS Group set a $96.00 target price on Donaldson in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Donaldson currently has a consensus rating of “Hold” and an average price target of $100.20.

Donaldson Stock Down 0.1%

Shares of DCI stock opened at $81.76 on Tuesday. Donaldson Company, Inc. has a 1 year low of $67.71 and a 1 year high of $112.84. The stock has a market cap of $9.47 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.99. The business’s fifty day moving average is $85.78 and its 200-day moving average is $91.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 2.29.

Donaldson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.32 per share. This is a boost from Donaldson’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 1.6%. Donaldson’s payout ratio is 37.50%.

Donaldson Company Profile

Donaldson Company, Inc (NYSE: DCI) is a global provider of filtration systems and replacement parts for a wide range of industries. The company develops and manufactures air, liquid and gas filtration solutions for engine and industrial applications, helping customers improve performance, lower emissions and extend equipment life. Donaldson’s product portfolio includes engine air intake filters, fuel filters, hydraulic filters, compressor filters, dust collection systems and gas turbine air intake systems.

Serving markets such as agriculture, construction, mining, power generation, aerospace and original equipment manufacturing, Donaldson operates through two primary business segments: Engine Products and Industrial Products.