Raymond James Financial Inc. Acquires Shares of 205,872 Donaldson Company, Inc. (NYSE:DCI)

Raymond James Financial Inc. purchased a new stake in shares of Donaldson Company, Inc. (NYSE:DCI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 205,872 shares of the industrial products company’s stock, valued at approximately $13,865,000.

Several other hedge funds have also added to or reduced their stakes in DCI. Smartleaf Asset Management LLC raised its stake in shares of Donaldson by 43.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the industrial products company’s stock worth $40,000 after buying an additional 180 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Donaldson by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,738 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC lifted its stake in Donaldson by 28.7% in the fourth quarter. GAMMA Investing LLC now owns 925 shares of the industrial products company’s stock valued at $62,000 after buying an additional 206 shares during the period. Signal Advisors Wealth LLC boosted its holdings in Donaldson by 5.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 4,709 shares of the industrial products company’s stock worth $317,000 after buying an additional 249 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Donaldson by 4.9% during the 4th quarter. Truist Financial Corp now owns 6,199 shares of the industrial products company’s stock worth $417,000 after buying an additional 290 shares during the period. Institutional investors own 82.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Donaldson news, Director James Owens sold 18,700 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $62.02, for a total transaction of $1,159,774.00. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Thomas R. Scalf sold 28,500 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $69.22, for a total transaction of $1,972,770.00. Following the completion of the transaction, the president now owns 28,334 shares in the company, valued at approximately $1,961,279.48. This represents a 50.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,700 shares of company stock valued at $5,164,799 in the last quarter. Company insiders own 2.70% of the company’s stock.

Donaldson Price Performance

Shares of DCI opened at $61.80 on Tuesday. The company has a 50 day moving average of $66.67 and a 200-day moving average of $70.40. 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 stock has a market capitalization of $7.39 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.82 and a beta of 1.01. Donaldson Company, Inc. has a twelve month low of $57.45 and a twelve month 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). Donaldson had a return on equity of 29.07% and a net margin of 11.56%. The business had revenue of $870.00 million for the quarter, compared to analyst estimates of $908.32 million. As a group, equities research analysts forecast that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.75%. The ex-dividend date was Thursday, February 13th. Donaldson’s dividend payout ratio (DPR) 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.