Cary Street Partners Financial LLC Makes New Investment in Danaher Co. (NYSE:DHR)

Cary Street Partners Financial LLC bought a new stake in Danaher Co. (NYSE:DHR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,642 shares of the conglomerate's stock, valued at approximately $1,754,000.

A number of other hedge funds have also made changes to their positions in DHR. Norges Bank acquired a new position in Danaher during the 4th quarter valued at approximately $2,130,740,000. Raymond James Financial Inc. acquired a new stake in Danaher in the 4th quarter valued at approximately $391,172,000. Capital World Investors raised its stake in Danaher by 32.7% during the 4th quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock valued at $1,460,215,000 after acquiring an additional 1,566,658 shares in the last quarter. Northern Trust Corp grew its stake in shares of Danaher by 14.3% in the fourth quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate's stock worth $1,821,477,000 after purchasing an additional 992,594 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Danaher by 6,862.7% in the fourth quarter. Van ECK Associates Corp now owns 929,868 shares of the conglomerate's stock worth $213,452,000 after purchasing an additional 916,513 shares during the period. Institutional investors and hedge funds own 79.05% of the company's stock.

Insider Transactions at Danaher

In other Danaher news, EVP Christopher Paul Riley sold 15,805 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the sale, the executive vice president now directly owns 15,179 shares in the company, valued at $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 11.10% of the stock is owned by corporate insiders.

Danaher Trading Up 3.8%

Shares of DHR traded up $7.26 during trading hours on Monday, reaching $196.99. The stock had a trading volume of 3,246,290 shares, compared to its average volume of 3,411,617. Danaher Co. has a 52 week low of $171.00 and a 52 week high of $281.70. The firm has a 50-day moving average of $198.39 and a 200 day moving average of $219.00. The company has a market cap of $140.98 billion, a P/E ratio of 37.35, a P/E/G ratio of 2.66 and a beta of 0.80. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. Danaher had a return on equity of 10.82% and a net margin of 16.33%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. On average, sell-side analysts expect that Danaher Co. will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.65%. Danaher's payout ratio is 24.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DHR. Raymond James reiterated a "market perform" rating on shares of Danaher in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus raised shares of Danaher from a "hold" rating to a "buy" rating and set a $260.00 price target on the stock in a research note on Friday, March 14th. UBS Group dropped their price target on shares of Danaher from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their target price on Danaher from $280.00 to $240.00 and set an "equal weight" rating for the company in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Danaher has a consensus rating of "Moderate Buy" and a consensus price target of $264.40.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.