State of Michigan Retirement System Lowers Stock Position in Donaldson Company, Inc. (NYSE:DCI)

State of Michigan Retirement System lowered its position in Donaldson Company, Inc. (NYSE:DCI) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,358 shares of the industrial products company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Donaldson were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in shares of Donaldson by 94.5% in the 4th quarter. IFP Advisors Inc now owns 2,745 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 1,334 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in Donaldson during the fourth quarter valued at approximately $943,000. JPMorgan Chase & Co. grew its stake in Donaldson by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 439,538 shares of the industrial products company’s stock worth $32,394,000 after buying an additional 23,758 shares during the period. Jensen Investment Management Inc. grew its stake in Donaldson by 18.1% during the third quarter. Jensen Investment Management Inc. now owns 67,040 shares of the industrial products company’s stock worth $4,941,000 after buying an additional 10,280 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Donaldson by 28.7% in the fourth quarter. GAMMA Investing LLC now owns 925 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 82.81% of the company’s stock.

Insider Buying and Selling at Donaldson

In related news, President Thomas R. Scalf sold 29,500 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $68.89, for a total transaction of $2,032,255.00. Following the sale, the president now owns 28,334 shares in the company, valued at $1,951,929.26. This represents a 51.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trudy A. Rautio sold 14,000 shares of Donaldson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $67.60, for a total value of $946,400.00. Following the completion of the transaction, the director now owns 26,420 shares of the company’s stock, valued at approximately $1,785,992. The trade was a 34.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded Donaldson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Morgan Stanley boosted their price target on Donaldson from $67.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird upped their price target on 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

Donaldson Stock Performance

Shares of DCI opened at $69.84 on Friday. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.82 and a beta of 1.04. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $69.38 and its two-hundred day moving average is $71.99. Donaldson Company, Inc. has a 52-week low of $65.10 and a 52-week high of $78.95.

Donaldson (NYSE:DCI) last posted its quarterly earnings data on Thursday, February 27th. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $870.00 million for the quarter, compared to the consensus estimate of $908.32 million. Donaldson had a net margin of 11.56% and a return on equity of 29.07%. Analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.55%. The ex-dividend date was Thursday, February 13th. Donaldson’s payout ratio is currently 31.58%.

About Donaldson

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.