TD Asset Management Inc Sells 48,389 Shares of Donaldson Company, Inc. $DCI

TD Asset Management Inc decreased its position in Donaldson Company, Inc. (NYSE:DCI) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,108,189 shares of the industrial products company’s stock after selling 48,389 shares during the period. TD Asset Management Inc owned approximately 0.96% of Donaldson worth $90,705,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DCI. State Street Corp grew its stake in Donaldson by 0.7% in the second quarter. State Street Corp now owns 5,221,808 shares of the industrial products company’s stock valued at $362,132,000 after acquiring an additional 36,866 shares during the period. Geode Capital Management LLC grew its position in shares of Donaldson by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,821,115 shares of the industrial products company’s stock valued at $195,667,000 after purchasing an additional 21,334 shares during the period. American Century Companies Inc. increased its stake in Donaldson by 3.6% during the 2nd quarter. American Century Companies Inc. now owns 1,545,416 shares of the industrial products company’s stock worth $107,175,000 after purchasing an additional 53,619 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 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 in the last quarter. Finally, Norges Bank acquired a new stake in Donaldson during the 2nd quarter worth approximately $68,759,000. Institutional investors and hedge funds own 82.81% of the company’s stock.

Wall Street Analyst Weigh In

DCI has been the subject of several research analyst reports. Robert W. Baird set a $110.00 price target on shares of Donaldson in a report on Monday, February 2nd. UBS Group set a $96.00 target price on shares of Donaldson in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Donaldson in a research note on Friday, January 9th. Morgan Stanley upgraded Donaldson from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $72.00 to $84.00 in a report on Monday, November 24th. Finally, Stifel Nicolaus increased their price objective on Donaldson from $90.00 to $96.00 and gave the stock a “hold” rating in a report on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.80.

Donaldson Trading Down 2.3%

Donaldson stock opened at $104.45 on Thursday. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 2.64 and a beta of 1.00. The firm has a 50-day moving average of $99.99 and a 200-day moving average of $89.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.15 and a quick ratio of 1.39. Donaldson Company, Inc. has a one year low of $57.45 and a one year high of $112.84.

Donaldson (NYSE:DCI) last issued its quarterly earnings results on Wednesday, December 3rd. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. The firm had revenue of $935.40 million during the quarter, compared to analysts’ expectations of $922.68 million. Donaldson had a return on equity of 30.24% and a net margin of 10.25%.The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. On average, equities analysts expect that Donaldson Company, Inc. will post 3.64 earnings per share for the current fiscal year.

Donaldson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. Donaldson’s dividend payout ratio (DPR) is currently 37.38%.

Insiders Place Their Bets

In other news, CFO Bradley J. Pogalz sold 566 shares of Donaldson stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $91.57, for a total value of $51,828.62. Following the completion of the transaction, the chief financial officer owned 434 shares of the company’s stock, valued at $39,741.38. This trade represents a 56.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ajita G. Rajendra sold 19,800 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $92.04, for a total transaction of $1,822,392.00. Following the transaction, the director owned 43,993 shares in the company, valued at $4,049,115.72. This represents a 31.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is currently owned by insiders.

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.