Cornerstone Wealth Management LLC Buys New Stake in Donaldson Company, Inc. $DCI

Cornerstone Wealth Management LLC bought a new stake in Donaldson Company, Inc. (NYSE:DCI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,724 shares of the industrial products company’s stock, valued at approximately $596,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Granite Bay Wealth Management LLC increased its holdings in Donaldson by 1.6% in the 4th quarter. Granite Bay Wealth Management LLC now owns 14,229 shares of the industrial products company’s stock valued at $1,262,000 after purchasing an additional 229 shares during the last quarter. Swiss Life Asset Management Ltd increased its holdings in Donaldson by 57.3% in the 4th quarter. Swiss Life Asset Management Ltd now owns 8,229 shares of the industrial products company’s stock valued at $730,000 after purchasing an additional 2,996 shares during the last quarter. Naples Global Advisors LLC increased its holdings in Donaldson by 1.9% in the 4th quarter. Naples Global Advisors LLC now owns 23,425 shares of the industrial products company’s stock valued at $2,077,000 after purchasing an additional 431 shares during the last quarter. NewEdge Wealth LLC increased its holdings in Donaldson by 4.2% in the 4th quarter. NewEdge Wealth LLC now owns 24,039 shares of the industrial products company’s stock valued at $2,131,000 after purchasing an additional 961 shares during the last quarter. Finally, Ethic Inc. increased its holdings in Donaldson by 22.4% in the 4th quarter. Ethic Inc. now owns 27,449 shares of the industrial products company’s stock valued at $2,434,000 after purchasing an additional 5,015 shares during the last quarter. Institutional investors and hedge funds own 82.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Donaldson from $93.00 to $91.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. UBS Group set a $96.00 target price on shares of Donaldson in a report on Tuesday, February 24th. Wall Street Zen cut shares of Donaldson from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Jefferies Financial Group raised their price target on shares of Donaldson to $123.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, 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 report on Monday, March 30th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.20.

Insider Buying and Selling

In other Donaldson news, Director James Owens sold 13,753 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 22,565 shares of the company’s stock, valued at $2,013,023.65. This trade represents a 37.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 19,800 shares of company stock valued at $1,765,184. Company insiders own 2.20% of the company’s stock.

Donaldson Stock Performance

Shares of DCI stock opened at $81.84 on Monday. The company has a quick ratio of 1.46, a current ratio of 2.29 and a debt-to-equity ratio of 0.43. Donaldson Company, Inc. has a 52 week low of $67.71 and a 52 week high of $112.84. The stock has a market capitalization of $9.48 billion, a PE ratio of 25.58, a P/E/G ratio of 2.06 and a beta of 0.99. The firm has a 50 day moving average of $86.69 and a two-hundred day moving average of $91.99.

Donaldson (NYSE:DCI) last issued its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.07). Donaldson had a net margin of 10.09% and a return on equity of 29.85%. The business had revenue of $896.30 million during the quarter, compared to analysts’ expectations of $898.64 million. During the same period in the prior year, the business earned $0.83 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts predict that Donaldson Company, Inc. will post 3.97 EPS for the current fiscal year.

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.