Ally Financial Inc. Invests $8.95 Million in Danaher Corporation $DHR

Key Points

• Ally Financial initiated an $8.95 million position in Danaher during the second quarter, buying 47,000 shares. Danaher now represents about 1.2% of Ally’s portfolio and is its 17th-largest holding.
• Danaher reported stronger-than-expected quarterly results, with adjusted earnings of $1.94 per share and revenue of $6.26 billion; revenue increased 5.5% year over year.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $228.91, though some firms have recently downgraded or lowered targets.

Ally Financial Inc. purchased a new position in Danaher Corporation (NYSE:DHR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 47,000 shares of the conglomerate's stock, valued at approximately $8,953,000. Danaher accounts for about 1.2% of Ally Financial Inc.'s investment portfolio, making the stock its 17th biggest position.

Several other institutional investors have also bought and sold shares of the company. Sivia Capital Partners LLC grew its stake in shares of Danaher by 6.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock worth $397,000 after acquiring an additional 119 shares during the period. First Trust Advisors LP lifted its stake in Danaher by 34.5% in the 2nd quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock worth $10,947,000 after purchasing an additional 14,217 shares in the last quarter. Main Street Financial Solutions LLC grew its position in Danaher by 40.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock worth $610,000 after buying an additional 886 shares in the last quarter. Ieq Capital LLC increased its position in shares of Danaher by 64.2% in the second quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock worth $14,957,000 after purchasing an additional 29,592 shares during the last quarter. Finally, HUB Investment Partners LLC raised its position in shares of Danaher by 30.7% during the 2nd quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock valued at $273,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Performance

Shares of DHR opened at $219.42 on Monday. The business's fifty day simple moving average is $195.80 and its two-hundred day simple moving average is $192.40. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a market cap of $154.25 billion, a price-to-earnings ratio of 38.97, a P/E/G ratio of 2.72 and a beta of 0.78.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The company's revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Research analysts anticipate that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DHR. Wolfe Research cut shares of Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $240.00 target price on shares of Danaher in a report on Wednesday, July 22nd. Piper Sandler initiated coverage on Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 target price on the stock. Weiss Ratings upgraded shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. Finally, TD Cowen cut their price target on Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and an average target price of $228.91.

Danaher Profile

Danaher Corporation NYSE: DHR is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher's portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.

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