Eastern Bank Invests $8.51 Million in Donaldson Company, Inc. (NYSE:DCI)

Eastern Bank purchased a new stake in Donaldson Company, Inc. (NYSE:DCI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 115,513 shares of the industrial products company's stock, valued at approximately $8,513,000. Eastern Bank owned about 0.10% of Donaldson at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. TD Asset Management Inc lifted its holdings in Donaldson by 23.7% in the first quarter. TD Asset Management Inc now owns 1,920,651 shares of the industrial products company's stock valued at $143,434,000 after acquiring an additional 367,705 shares during the period. Eagle Ridge Investment Management purchased a new stake in Donaldson in the 1st quarter worth approximately $25,351,000. Heartland Advisors Inc. purchased a new stake in shares of Donaldson in the first quarter valued at $17,016,000. Los Angeles Capital Management LLC purchased a new stake in Donaldson in the 2nd quarter valued at about $14,288,000. Finally, Epoch Investment Partners Inc. grew its holdings in Donaldson by 16.6% in the first quarter. Epoch Investment Partners Inc. now owns 1,331,717 shares of the industrial products company's stock valued at $99,453,000 after purchasing an additional 190,024 shares during the period. Institutional investors and hedge funds own 82.81% of the company's stock.

Donaldson Stock Down 1.9 %

Shares of DCI traded down $1.41 during trading hours on Tuesday, reaching $73.72. The company's stock had a trading volume of 427,393 shares, compared to its average volume of 485,373. The company has a 50 day moving average of $72.71 and a two-hundred day moving average of $72.90. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.92 and a beta of 1.04. Donaldson Company, Inc. has a 1-year low of $57.05 and a 1-year high of $78.03. The company has a quick ratio of 1.23, a current ratio of 1.84 and a debt-to-equity ratio of 0.32.

Donaldson (NYSE:DCI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The industrial products company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.06. Donaldson had a return on equity of 29.47% and a net margin of 11.54%. The business had revenue of $935.40 million for the quarter, compared to analyst estimates of $941.12 million. As a group, research analysts predict that Donaldson Company, Inc. will post 3.63 EPS for the current fiscal year.

Donaldson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 13th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, August 13th. Donaldson's payout ratio is 33.44%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Donaldson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 28th. Raymond James initiated coverage on shares of Donaldson in a research note on Friday, June 28th. They issued a "market perform" rating on the stock. Finally, Stifel Nicolaus lowered their target price on shares of Donaldson from $76.00 to $71.00 and set a "hold" rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.67.

Insiders Place Their Bets

In other news, President Thomas R. Scalf sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $73.16, for a total transaction of $182,900.00. Following the sale, the president now directly owns 28,334 shares of the company's stock, valued at $2,072,915.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, President Thomas R. Scalf sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $73.16, for a total value of $182,900.00. Following the sale, the president now directly owns 28,334 shares in the company, valued at $2,072,915.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tod E. Carpenter sold 30,919 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $72.69, for a total value of $2,247,502.11. Following the completion of the transaction, the chief executive officer now directly owns 256,742 shares of the company's stock, valued at approximately $18,662,575.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,805 shares of company stock valued at $12,310,222. 2.58% of the stock is currently owned by insiders.

Donaldson 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.