Bessemer Group Inc. Decreases Stake in Danaher Corporation $DHR

Key Points

• Bessemer Group Inc. cut its Danaher stake by 12.2% in the fourth quarter, selling 292,056 shares and leaving it with 2.1 million shares worth about $480 million.
• Insider selling and mixed analyst signals accompanied the filing: EVP Gregory M. Milosevich sold 1,320 shares, while analysts remain mostly positive overall with 18 Buy ratings, 3 Holds, and a consensus target price of $238.65.
• Danaher posted solid earnings and continues paying a dividend, reporting $2.06 EPS versus $1.94 expected, plus a quarterly $0.40 dividend to be paid on July 31, though the stock has fallen well below its 52-week high.

Bessemer Group Inc. reduced its position in Danaher Corporation (NYSE:DHR - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,096,906 shares of the conglomerate's stock after selling 292,056 shares during the period. Danaher makes up about 0.7% of Bessemer Group Inc.'s holdings, making the stock its 19th biggest holding. Bessemer Group Inc. owned approximately 0.30% of Danaher worth $480,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC bought a new position in shares of Danaher during the third quarter worth about $462,000. Bank Pictet & Cie Europe AG lifted its position in shares of Danaher by 25.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate's stock worth $83,895,000 after purchasing an additional 74,301 shares during the last quarter. Lockheed Martin Investment Management Co. lifted its position in shares of Danaher by 49.4% during the third quarter. Lockheed Martin Investment Management Co. now owns 25,340 shares of the conglomerate's stock worth $5,024,000 after purchasing an additional 8,380 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Danaher by 2.9% during the third quarter. Johnson Investment Counsel Inc. now owns 664,705 shares of the conglomerate's stock worth $131,784,000 after purchasing an additional 18,744 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in shares of Danaher by 4.6% during the third quarter. Resona Asset Management Co. Ltd. now owns 513,288 shares of the conglomerate's stock worth $100,071,000 after purchasing an additional 22,595 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Danaher

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the sale, the executive vice president owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Leerink Partners increased their price target on shares of Danaher from $260.00 to $270.00 and gave the stock an "outperform" rating in a research report on Friday, January 16th. UBS Group reduced their price target on shares of Danaher from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Danaher in a research note on Friday, March 27th. TD Cowen dropped their price objective on shares of Danaher from $245.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Finally, Guggenheim dropped their price objective on shares of Danaher from $275.00 to $235.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $238.65.

Danaher Price Performance

DHR opened at $164.59 on Friday. The firm has a market cap of $116.49 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Danaher Corporation has a fifty-two week low of $163.32 and a fifty-two week high of $242.80. The company's 50-day moving average price is $187.15 and its 200 day moving average price is $210.72. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. Danaher's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. As a group, sell-side analysts expect that Danaher Corporation will post 8.43 earnings per share for the current year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Danaher's dividend payout ratio (DPR) is presently 30.95%.

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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