Donaldson (NYSE:DCI) Posts Earnings Results, Beats Expectations By $0.01 EPS

Donaldson (NYSE:DCI) posted its earnings results on Monday. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01, FiscalAI reports. The company had revenue of $995.10 million for the quarter, compared to analyst estimates of $973.65 million. Donaldson had a net margin of 10.09% and a return on equity of 29.85%.

Donaldson Stock Performance

Donaldson stock opened at $81.76 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $9.47 billion, a PE ratio of 25.55, a P/E/G ratio of 2.06 and a beta of 0.99. The firm has a fifty day simple moving average of $85.78 and a two-hundred day simple moving average of $91.80. Donaldson has a twelve month low of $67.71 and a twelve month high of $112.84.

Donaldson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Donaldson’s previous quarterly dividend of $0.30. Donaldson’s payout ratio is presently 37.50%.

Analyst Upgrades and Downgrades

DCI has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of Donaldson from $93.00 to $91.00 and set an “equal weight” rating for the company in a research note on Monday, March 9th. UBS Group set a $96.00 price target on shares of Donaldson in a research note on Tuesday, February 24th. Robert W. Baird decreased their price target on shares of Donaldson from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Wall Street Zen lowered shares of Donaldson from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Jefferies Financial Group raised their target price on Donaldson to $123.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $100.20.

Insiders Place Their Bets

In other Donaldson news, Director James Owens sold 13,753 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $89.21, for a total value of $1,226,905.13. Following the completion of the sale, the director directly owned 22,565 shares of the company’s stock, valued at $2,013,023.65. The trade was a 37.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 19,800 shares of company stock valued at $1,765,184 over the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Donaldson

A number of hedge funds have recently modified their holdings of DCI. Royal Bank of Canada increased its position in shares of Donaldson by 38.2% in the first quarter. Royal Bank of Canada now owns 102,128 shares of the industrial products company’s stock valued at $6,848,000 after acquiring an additional 28,207 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Donaldson by 16.5% in the first quarter. Integrated Wealth Concepts LLC now owns 3,479 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 494 shares during the period. Millennium Management LLC increased its position in shares of Donaldson by 428.6% during the first quarter. Millennium Management LLC now owns 223,976 shares of the industrial products company’s stock valued at $15,020,000 after buying an additional 181,602 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Donaldson by 29.0% during the first quarter. Goldman Sachs Group Inc. now owns 279,525 shares of the industrial products company’s stock valued at $18,745,000 after buying an additional 62,864 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Donaldson by 84.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,032 shares of the industrial products company’s stock valued at $141,000 after buying an additional 933 shares during the period. Hedge funds and other institutional investors own 82.81% of the company’s stock.

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.