Royal Bank of Canada Buys 32,153 Shares of Donaldson Company, Inc. $DCI

Royal Bank of Canada lifted its position in Donaldson Company, Inc. (NYSE:DCI) by 24.7% during the 1st quarter, HoldingsChannel reports. The firm owned 162,084 shares of the industrial products company’s stock after acquiring an additional 32,153 shares during the quarter. Royal Bank of Canada’s holdings in Donaldson were worth $13,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DCI. Leonteq Securities AG purchased a new stake in shares of Donaldson during the 4th quarter worth approximately $40,000. Eagle Bay Advisors LLC bought a new stake in Donaldson in the fourth quarter worth $45,000. Clearstead Advisors LLC raised its stake in Donaldson by 92.6% during the fourth quarter. Clearstead Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 288 shares in the last quarter. Strive Financial Group LLC bought a new position in Donaldson during the fourth quarter valued at $57,000. Finally, Sachetta LLC bought a new position in Donaldson during the first quarter valued at $65,000. 82.81% of the stock is currently owned by hedge funds and other institutional investors.

Donaldson Price Performance

NYSE:DCI opened at $98.72 on Friday. Donaldson Company, Inc. has a 1-year low of $71.79 and a 1-year high of $112.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.35 and a quick ratio of 1.55. The company has a 50 day moving average price of $89.25 and a 200-day moving average price of $91.24. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92.

Donaldson (NYSE:DCI) last posted its earnings results on Monday, June 1st. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. Donaldson had a net margin of 11.52% and a return on equity of 29.17%. The business had revenue of $995.10 million for the quarter, compared to analyst estimates of $973.65 million. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts forecast that Donaldson Company, Inc. will post 3.96 EPS for the current year.

Donaldson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 17th. Donaldson’s dividend payout ratio is presently 34.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company set a $91.00 target price on shares of Donaldson in a research note on Thursday, June 4th. Wall Street Zen lowered Donaldson from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Stifel Nicolaus lowered their target price on Donaldson from $96.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Donaldson from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.83.

About Donaldson

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.