Granite Bay Wealth Management LLC Invests $943,000 in Donaldson Company, Inc. (NYSE:DCI)

Granite Bay Wealth Management LLC purchased a new position in shares of Donaldson Company, Inc. (NYSE:DCI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,000 shares of the industrial products company's stock, valued at approximately $943,000.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Donaldson by 8.5% during the second quarter. Victory Capital Management Inc. now owns 32,646 shares of the industrial products company's stock worth $2,336,000 after acquiring an additional 2,569 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Donaldson by 221.0% during the second quarter. Headlands Technologies LLC now owns 1,011 shares of the industrial products company's stock worth $72,000 after acquiring an additional 696 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Donaldson by 0.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 162,553 shares of the industrial products company's stock worth $11,586,000 after acquiring an additional 674 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Donaldson by 13.2% during the second quarter. Federated Hermes Inc. now owns 14,787 shares of the industrial products company's stock worth $1,058,000 after acquiring an additional 1,729 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Donaldson by 4.4% during the second quarter. Envestnet Asset Management Inc. now owns 123,025 shares of the industrial products company's stock worth $8,804,000 after acquiring an additional 5,129 shares during the period. Institutional investors and hedge funds own 82.81% of the company's stock.

Analyst Ratings Changes

DCI has been the subject of a number of research analyst reports. Morgan Stanley boosted their price objective on Donaldson from $67.00 to $68.00 and gave the stock an "underweight" rating in a report on Wednesday, December 4th. StockNews.com cut Donaldson from a "strong-buy" rating to a "buy" rating in a report on Monday. Finally, Robert W. Baird boosted their price target on Donaldson from $81.00 to $83.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Donaldson presently has a consensus rating of "Hold" and a consensus price target of $74.00.

Donaldson Price Performance

Shares of DCI stock traded up $1.29 during trading on Tuesday, hitting $68.27. The company had a trading volume of 337,339 shares, compared to its average volume of 442,855. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.85. The firm has a market capitalization of $8.15 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. The stock's 50-day moving average price is $72.50 and its 200 day moving average price is $72.64. Donaldson Company, Inc. has a one year low of $62.77 and a one year high of $78.95.

Donaldson (NYSE:DCI - Get Free Report) last released its earnings results on Tuesday, December 3rd. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Donaldson had a return on equity of 29.07% and a net margin of 11.56%. The firm had revenue of $900.10 million during the quarter, compared to analysts' expectations of $888.88 million. During the same period in the prior year, the company earned $0.75 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts expect that Donaldson Company, Inc. will post 3.64 EPS for the current fiscal year.

Donaldson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 9th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Monday, December 9th. Donaldson's payout ratio is presently 31.40%.

Insiders Place Their Bets

In other news, Director Trudy A. Rautio sold 14,000 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $67.60, for a total transaction of $946,400.00. Following the completion of the transaction, the director now directly owns 26,420 shares in the company, valued at approximately $1,785,992. This represents a 34.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.

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.