Hemenway Trust Co LLC Lowers Stake in Donaldson Company, Inc. (NYSE:DCI)

Hemenway Trust Co LLC reduced its stake in shares of Donaldson Company, Inc. (NYSE:DCI) by 9.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,000 shares of the industrial products company’s stock after selling 400 shares during the quarter. Hemenway Trust Co LLC’s holdings in Donaldson were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Park Place Capital Corp purchased a new stake in shares of Donaldson during the first quarter valued at about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Donaldson during the fourth quarter valued at about $27,000. YHB Investment Advisors Inc. purchased a new stake in shares of Donaldson during the first quarter valued at about $32,000. Lindbrook Capital LLC lifted its position in shares of Donaldson by 58.2% during the fourth quarter. Lindbrook Capital LLC now owns 473 shares of the industrial products company’s stock valued at $31,000 after buying an additional 174 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Donaldson by 1,252.6% during the first quarter. Global Retirement Partners LLC now owns 514 shares of the industrial products company’s stock valued at $38,000 after buying an additional 476 shares during the last quarter. 82.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Scott J. Robinson sold 37,600 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $70.97, for a total transaction of $2,668,472.00. Following the transaction, the chief financial officer now owns 37,702 shares in the company, valued at approximately $2,675,710.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DCI. Raymond James began coverage on shares of Donaldson in a report on Friday, June 28th. They set a “market perform” rating on the stock. Robert W. Baird cut their price objective on shares of Donaldson from $80.00 to $79.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.67.

Donaldson Stock Performance

NYSE:DCI traded up $1.33 during midday trading on Thursday, hitting $71.76. The company’s stock had a trading volume of 290,905 shares, compared to its average volume of 499,970. Donaldson Company, Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $78.03. The firm’s 50 day moving average is $73.03 and its 200-day moving average is $70.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.91 and a quick ratio of 1.30. The firm has a market cap of $8.64 billion, a P/E ratio of 22.22, a P/E/G ratio of 1.99 and a beta of 1.05.

Donaldson (NYSE:DCI) last issued its quarterly earnings results on Tuesday, June 4th. The industrial products company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Donaldson had a net margin of 11.22% and a return on equity of 29.00%. The company had revenue of $927.90 million for the quarter, compared to the consensus estimate of $915.84 million. During the same quarter in the prior year, the company earned $0.76 EPS. Donaldson’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that Donaldson Company, Inc. will post 3.37 earnings per share for the current fiscal year.

Donaldson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, June 17th. This is a positive change from Donaldson’s previous quarterly dividend of $0.25. Donaldson’s dividend payout ratio is currently 33.44%.

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.