Donaldson (NYSE:DCI – Get Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.66-$2.68 for the period, compared to the consensus estimate of $3.03. The company issued revenue guidance of $3.34 billion-$3.47 billion, compared to the consensus revenue estimate of $3.53 billion.

Donaldson Price Performance

Donaldson stock traded up $0.16 during midday trading on Wednesday, reaching $52.03. 13,342 shares of the stock traded hands, compared to its average volume of 408,476. The stock has a market cap of $6.39 billion, a P/E ratio of 19.47, a PEG ratio of 1.67 and a beta of 1.25. The stock's fifty day moving average is $52.71 and its 200-day moving average is $51.44. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.57. Donaldson has a 12 month low of $46.00 and a 12 month high of $63.15.

Donaldson (NYSE:DCI – Get Rating) last posted its earnings results on Wednesday, August 31st. The industrial products company reported $0.84 EPS for the quarter, meeting analysts' consensus estimates of $0.84. Donaldson had a return on equity of 29.89% and a net margin of 10.07%. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $879.61 million. During the same period in the prior year, the company earned $0.66 EPS. The company's quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Donaldson will post 3 EPS for the current year.

Donaldson Dividend Announcement

Wall Street Analysts Forecast Growth

DCI has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Donaldson from $68.00 to $63.00 and set an overweight rating for the company in a report on Monday, July 18th. Stifel Nicolaus reduced their target price on shares of Donaldson from $53.00 to $51.00 in a research note on Monday, July 18th. StockNews.com cut shares of Donaldson from a strong-buy rating to a buy rating in a research note on Sunday, June 12th. Finally, Robert W. Baird reduced their price objective on shares of Donaldson from $61.00 to $59.00 and set an outperform rating on the stock in a research report on Thursday, September 1st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. boosted its position in Donaldson by 22.8% in the 1st quarter. First Republic Investment Management Inc. now owns 16,455 shares of the industrial products company's stock valued at $855,000 after buying an additional 3,051 shares during the period. United Services Automobile Association purchased a new stake in shares of Donaldson in the second quarter valued at approximately $635,000. PDT Partners LLC grew its stake in Donaldson by 124.6% in the first quarter. PDT Partners LLC now owns 10,523 shares of the industrial products company's stock worth $546,000 after purchasing an additional 5,838 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Donaldson during the 2nd quarter worth $414,000. Finally, Jane Street Group LLC raised its position in Donaldson by 83.9% during the 2nd quarter. Jane Street Group LLC now owns 7,675 shares of the industrial products company's stock valued at $369,000 after purchasing an additional 3,501 shares in the last quarter. 80.20% of the stock is currently owned by institutional investors.

Donaldson Company Profile

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Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.

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