Donaldson Company, Inc. (NYSE:DCI) Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Donaldson Company, Inc. (NYSE:DCI) by 38.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,462,194 shares of the industrial products company’s stock after selling 904,933 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.21% of Donaldson worth $104,635,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Park Place Capital Corp acquired a new position in shares of Donaldson in the 1st quarter worth approximately $27,000. Lindbrook Capital LLC grew its position in Donaldson by 58.2% in the fourth quarter. Lindbrook Capital LLC now owns 473 shares of the industrial products company’s stock worth $31,000 after buying an additional 174 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Donaldson in the first quarter valued at $32,000. Global Retirement Partners LLC increased its holdings in shares of Donaldson by 1,252.6% in 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 in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Donaldson by 1,372.2% during the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 494 shares during the last quarter. 82.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Scott J. Robinson sold 37,600 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were 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 directly owns 37,702 shares in the company, valued at approximately $2,675,710.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.58% of the company’s stock.

Donaldson Stock Performance

Shares of Donaldson stock opened at $74.90 on Tuesday. Donaldson Company, Inc. has a 12 month low of $57.05 and a 12 month high of $78.03. The company has a quick ratio of 1.30, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The stock has a market cap of $9.02 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The business has a fifty day simple moving average of $72.46 and a 200-day simple moving average of $72.50.

Donaldson (NYSE:DCI) last announced its quarterly earnings data on Tuesday, June 4th. The industrial products company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $927.90 million during the quarter, compared to analyst estimates of $915.84 million. Donaldson had a return on equity of 29.00% and a net margin of 11.22%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. On average, sell-side analysts anticipate that Donaldson Company, Inc. will post 3.37 EPS for the current fiscal year.

Donaldson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 13th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.08 annualized dividend and a yield of 1.44%. Donaldson’s dividend payout ratio is presently 33.44%.

Analysts Set New Price Targets

Several brokerages have recently commented on DCI. Robert W. Baird reduced their target price on Donaldson from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Monday, June 3rd. Raymond James assumed coverage on shares of Donaldson in a research note on Friday, June 28th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.67.

Donaldson Company Profile

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.