Danaher Corporation $DHR is Montrusco Bolton Investments Inc.'s 7th Largest Position

Key Points

• Montrusco Bolton Investments cut its Danaher stake by 7.2% in the first quarter, but the stock remains its 7th-largest holding. The firm still owned 1.34 million shares worth about $246.2 million at quarter-end.
• Danaher reported better-than-expected quarterly earnings of $2.06 per share, topping estimates, while revenue came in at $5.95 billion and rose 3.7% year over year. Analysts are looking for full-year earnings of $8.44 per share.
• The company declared a quarterly dividend of $0.40 per share, equivalent to $1.60 annually and a 0.8% yield. Wall Street sentiment remains positive overall, with a Moderate Buy consensus and average target price of $233.61.

Montrusco Bolton Investments Inc. cut its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,341,168 shares of the conglomerate's stock after selling 103,400 shares during the quarter. Danaher makes up approximately 3.7% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 7th biggest position. Montrusco Bolton Investments Inc. owned 0.19% of Danaher worth $246,177,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG increased its position in 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 buying an additional 74,301 shares during the period. Maxi Investments CY Ltd acquired a new stake in shares of Danaher in the third quarter valued at approximately $3,251,000. Defender Capital LLC. acquired a new stake in shares of Danaher in the fourth quarter valued at approximately $35,715,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate's stock worth $56,777,000 after acquiring an additional 186,584 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Danaher in the 3rd quarter valued at $17,480,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Stock Down 0.0%

Shares of Danaher stock opened at $197.85 on Friday. The company has a market cap of $140.03 billion, a P/E ratio of 38.27, a PEG ratio of 2.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The firm has a fifty day moving average of $179.01 and a two-hundred day moving average of $200.54.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The business's quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that Danaher Corporation will post 8.44 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Danaher's payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DHR shares. Wells Fargo & Company reduced their price target on shares of Danaher from $240.00 to $212.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 22nd. Barclays dropped their price objective on shares of Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. The Goldman Sachs Group decreased their target price on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Jefferies Financial Group reissued a "buy" rating and set a $245.00 price target on shares of Danaher in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. dropped their price target on Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.61.

About Danaher

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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