Bank of America Corp DE Reduces Holdings in Donaldson Company, Inc. (NYSE:DCI)

Bank of America Corp DE reduced its holdings in shares of Donaldson Company, Inc. (NYSE:DCI) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 253,107 shares of the industrial products company’s stock after selling 2,396 shares during the period. Bank of America Corp DE’s holdings in Donaldson were worth $17,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DCI. IFP Advisors Inc grew its position in shares of Donaldson by 94.5% during the 4th quarter. IFP Advisors Inc now owns 2,745 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 1,334 shares during the period. JPMorgan Chase & Co. lifted its position in Donaldson by 7.1% during the fourth quarter. JPMorgan Chase & Co. now owns 470,602 shares of the industrial products company’s stock valued at $31,695,000 after purchasing an additional 31,064 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Donaldson by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 574,146 shares of the industrial products company’s stock valued at $38,669,000 after purchasing an additional 158,487 shares during the period. KBC Group NV grew its holdings in Donaldson by 1,447.9% during the fourth quarter. KBC Group NV now owns 42,398 shares of the industrial products company’s stock valued at $2,856,000 after purchasing an additional 39,659 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Donaldson by 26.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 64,501 shares of the industrial products company’s stock worth $4,344,000 after buying an additional 13,620 shares in the last quarter. 82.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director James Owens sold 18,700 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $62.02, for a total value of $1,159,774.00. Following the completion of the sale, the director now directly owns 20,246 shares of the company’s stock, valued at $1,255,656.92. This trade represents a 48.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Thomas R. Scalf sold 29,500 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $68.89, for a total value of $2,032,255.00. Following the transaction, the president now directly owns 28,334 shares in the company, valued at approximately $1,951,929.26. This represents a 51.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,700 shares of company stock worth $5,164,799 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

DCI has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on Donaldson from $70.00 to $63.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. StockNews.com cut shares of Donaldson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.33.

Donaldson Price Performance

NYSE:DCI opened at $70.39 on Wednesday. The business’s 50-day simple moving average is $66.05 and its two-hundred day simple moving average is $69.47. Donaldson Company, Inc. has a 52 week low of $57.45 and a 52 week high of $78.95. The stock has a market cap of $8.41 billion, a PE ratio of 20.46, a P/E/G ratio of 1.82 and a beta of 1.01. The company has a quick ratio of 1.20, a current ratio of 1.85 and a debt-to-equity ratio of 0.35.

Donaldson (NYSE:DCI) last posted its quarterly earnings results 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). Donaldson had a return on equity of 29.07% and a net margin of 11.56%. The business had revenue of $870.00 million during the quarter, compared to analysts’ expectations of $908.32 million. As a group, analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

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.