Caprock Group LLC has established a new position in Donaldson Company, Inc. (NYSE:DCI), acquiring 15,363 shares valued at approximately $1,224,000 during the third quarter. This investment was disclosed in the company’s latest filing with the U.S. Securities and Exchange Commission (SEC). The move reflects growing interest in the industrial products sector among large institutional investors.
Several other prominent investors have recently adjusted their stakes in Donaldson. Royal Bank of Canada increased its holdings by 38.2% in the first quarter, now owning 102,128 shares valued at approximately $6.85 million. Similarly, Integrated Wealth Concepts LLC raised its position by 16.5% to 3,479 shares worth $233,000. Notably, Millennium Management LLC significantly expanded its investment by 428.6%, amassing 223,976 shares valued at $15.02 million.
The trend of increasing investments continues with Goldman Sachs Group Inc., which grew its stake by 29.0%, holding 279,525 shares worth approximately $18.75 million after acquiring an additional 62,864 shares. Janney Montgomery Scott LLC also increased its position by 2.2%, owning 7,291 shares valued at around $506,000. Currently, institutional investors control 82.81% of Donaldson’s stock.
Stock Performance and Dividend Announcement
On Friday, shares of Donaldson opened at $109.38, reflecting a 0.5% decrease. Over the past year, the stock has seen a low of $57.45 and a high of $112.84. Donaldson Company, which has a market capitalization of $12.62 billion, reports a price-to-earnings ratio of 34.08 and a dividend payout ratio of 37.38%.
The company recently declared a quarterly dividend of $0.30 per share, set to be paid on February 27, 2024. Stockholders of record on February 12, 2024 will receive the dividend, which represents an annualized yield of 1.1%.
Analyst Ratings and Insider Activity
Recent evaluations from research analysts indicate a generally positive outlook for Donaldson. Stifel Nicolaus raised its price target from $90.00 to $96.00 while maintaining a “hold” rating. Jefferies Financial Group set a new target of $123.00 with a “buy” rating on February 2, 2024. Morgan Stanley upgraded its rating from “underweight” to “equal weight,” increasing the price objective from $72.00 to $84.00.
As for insider trading, Ajita G. Rajendra, a director at Donaldson, sold 19,800 shares at an average price of $92.04 on December 5, 2023, totaling $1,822,392. Following this transaction, Rajendra retains 43,993 shares in the company, valued at approximately $4.05 million. Additionally, Bradley J. Pogalz, the Chief Financial Officer, sold 566 shares on December 9, 2023, for a total of $51,828.62.
Insiders currently own 2.20% of the company’s stock, reflecting a modest level of insider participation in the firm.
Donaldson Company, Inc. operates globally, providing filtration systems and replacement parts across various industries. Its product range includes air, liquid, and gas filtration solutions aimed at enhancing performance and reducing emissions for sectors such as agriculture, construction, and aerospace. With a focus on innovation, Donaldson continues to advance its offerings to meet the demands of its diverse customer base.
