Allspring Global Investments Holdings LLC Sells 206,683 Shares of Danaher Corporation (NYSE:DHR)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 78.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,342 shares of the conglomerate's stock after selling 206,683 shares during the period. Allspring Global Investments Holdings LLC's holdings in Danaher were worth $11,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortis Capital Advisors LLC boosted its stake in Danaher by 1.3% during the 4th quarter. Fortis Capital Advisors LLC now owns 3,983 shares of the conglomerate's stock valued at $914,000 after purchasing an additional 50 shares during the period. Fayez Sarofim & Co boosted its stake in Danaher by 0.6% during the 4th quarter. Fayez Sarofim & Co now owns 8,287 shares of the conglomerate's stock valued at $1,902,000 after purchasing an additional 50 shares during the period. Coastal Bridge Advisors LLC boosted its stake in Danaher by 4.8% during the 4th quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate's stock valued at $252,000 after purchasing an additional 50 shares during the period. Perennial Investment Advisors LLC boosted its stake in Danaher by 2.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate's stock valued at $538,000 after purchasing an additional 51 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its stake in Danaher by 3.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,739 shares of the conglomerate's stock valued at $399,000 after purchasing an additional 52 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Stock Up 0.3%

Danaher stock traded up $0.58 during trading hours on Friday, hitting $203.08. The company had a trading volume of 1,390,744 shares, compared to its average volume of 3,501,434. The firm has a market capitalization of $145.33 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 2.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.05. The firm's fifty day moving average is $195.63 and its 200-day moving average is $207.38. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Danaher had a net margin of 15.81% and a return on equity of 10.80%. The company had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.58 billion. On average, research analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.63%. Danaher's dividend payout ratio (DPR) is 24.85%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DHR. Wells Fargo & Company reduced their target price on shares of Danaher from $240.00 to $210.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Argus reduced their price target on shares of Danaher from $260.00 to $240.00 in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Danaher from $240.00 to $235.00 in a research note on Thursday, June 5th. Bank of America reduced their price target on shares of Danaher from $265.00 to $230.00 in a research note on Monday, April 14th. Finally, UBS Group reduced their price target on shares of Danaher from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Danaher has a consensus rating of "Moderate Buy" and an average price target of $248.61.

Insider Buying and Selling at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the sale, the executive vice president directly owned 15,179 shares of the company's stock, valued at approximately $3,005,442. This represents a 51.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven M. Rales sold 1,250,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman directly owned 3,105,808 shares of the company's stock, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company's stock.

Danaher Profile

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.