Danaher Corporation $DHR is Palmer Knight Co's 2nd Largest Position

Key Points

• Palmer Knight Co reduced its stake in Danaher by 18.7% to 37,521 shares (worth $8.589M), leaving DHR as about 4.5% of its portfolio and its second-largest holding.
• Analysts maintain a consensus of "Moderate Buy" (18 Buys, 3 Holds) with an average target of $240.70, though several firms recently trimmed price targets and ratings.
• Danaher beat quarterly EPS estimates ($2.06 vs. $1.94) while revenue slightly missed, and the company declared a quarterly dividend of $0.40 ($1.60 annual, ~0.9% yield).

Palmer Knight Co lowered its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,521 shares of the conglomerate's stock after selling 8,608 shares during the period. Danaher comprises about 4.5% of Palmer Knight Co's investment portfolio, making the stock its 2nd biggest holding. Palmer Knight Co's holdings in Danaher were worth $8,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Elevated Capital Advisors LLC bought a new stake in shares of Danaher in the 4th quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new position in Danaher during the third quarter valued at approximately $25,000. WFA of San Diego LLC bought a new position in Danaher during the second quarter valued at approximately $26,000. ANTIPODES PARTNERS Ltd acquired a new stake in Danaher in the third quarter valued at approximately $27,000. Finally, Financial Life Planners acquired a new stake in Danaher in the third quarter valued at approximately $32,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Danaher

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the sale, the executive vice president owned 5,099 shares in the company, valued at $1,060,642.99. This represents a 20.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Danaher from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Danaher in a research note on Thursday, January 29th. Argus decreased their price objective on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 24th. Barclays cut their target price on Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, April 14th. Finally, TD Cowen reduced their price target on Danaher from $245.00 to $240.00 and set a "buy" rating for the company in a research report 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, Danaher presently has a consensus rating of "Moderate Buy" and an average target price of $240.70.

Danaher Price Performance

Shares of Danaher stock opened at $174.69 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $192.65 and a 200-day simple moving average of $213.03. The stock has a market capitalization of $123.64 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.33 and a beta of 0.81. Danaher Corporation has a 1-year low of $172.34 and a 1-year high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS 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 the consensus estimate of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. On average, sell-side analysts expect that Danaher Corporation will post 8.43 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.9%. Danaher's payout ratio is presently 30.95%.

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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