Chevy Chase Trust Holdings LLC Trims Stake in Danaher Corporation $DHR

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Danaher Corporation by 0.4% in the 2nd quarter, holding 387,452 shares valued at approximately $76.54 million post-sale.
• Danaher reported a Q2 earnings per share (EPS) of $1.80, surpassing estimates and showing a 3.4% year-over-year revenue increase to $5.94 billion.
• The company declared a quarterly dividend of $0.32 per share, with an expected yield of 0.6%, to be paid on October 31st.

Chevy Chase Trust Holdings LLC trimmed its stake in Danaher Corporation (NYSE:DHR - Free Report) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,452 shares of the conglomerate's stock after selling 1,746 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Danaher worth $76,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arista Wealth Management LLC purchased a new stake in shares of Danaher in the 2nd quarter worth $669,000. Koa Wealth Management LLC increased its stake in shares of Danaher by 7.0% in the 2nd quarter. Koa Wealth Management LLC now owns 19,838 shares of the conglomerate's stock worth $3,919,000 after purchasing an additional 1,290 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in Danaher by 12.4% in the 2nd quarter. Angeles Wealth Management LLC now owns 4,626 shares of the conglomerate's stock worth $914,000 after buying an additional 509 shares during the period. Applied Finance Capital Management LLC increased its stake in Danaher by 16.0% in the 2nd quarter. Applied Finance Capital Management LLC now owns 65,728 shares of the conglomerate's stock worth $12,984,000 after buying an additional 9,075 shares in the last quarter. Finally, Praxis Investment Management Inc. increased its stake in Danaher by 3.2% in the 2nd quarter. Praxis Investment Management Inc. now owns 29,374 shares of the conglomerate's stock worth $5,803,000 after buying an additional 920 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Up 2.3%

DHR opened at $210.86 on Friday. The firm has a 50-day simple moving average of $201.43 and a two-hundred day simple moving average of $197.23. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $279.41. The company has a market capitalization of $150.99 billion, a PE ratio of 44.86, a price-to-earnings-growth ratio of 2.94 and a beta of 0.77. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The business's revenue was up 3.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, September 26th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's dividend payout ratio is 27.23%.

Insider Activity at Danaher

In related news, Director Teri List sold 2,778 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the completion of the transaction, the director owned 20,751 shares of the company's stock, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.10% of the company's stock.

Wall Street Analysts Forecast Growth

DHR has been the subject of a number of analyst reports. Evercore ISI increased their price target on Danaher from $226.00 to $245.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. Scotiabank upgraded Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target for the company in a research note on Friday, July 11th. Robert W. Baird increased their price target on Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Rothschild Redb lowered Danaher from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 8th. Finally, Rothschild & Co Redburn reiterated a "neutral" rating and issued a $220.00 price target (down previously from $245.00) on shares of Danaher in a research note on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.60.

Danaher Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.