Danaher Corporation $DHR Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Danaher stake by 5.3% in the first quarter, selling 347,834 shares and retaining 6.25 million shares worth approximately $1.19 billion. Institutional investors collectively own 79.05% of Danaher.
• Danaher reported quarterly earnings of $1.94 per share, exceeding estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. The company declared a quarterly dividend of $0.40 per share, representing a 0.8% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $228.91, despite several recent target reductions. Danaher shares opened at $196.29, compared with a 12-month range of $160.93 to $242.80.

Bank of America Corp DE decreased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,252,116 shares of the conglomerate's stock after selling 347,834 shares during the period. Bank of America Corp DE owned approximately 0.88% of Danaher worth $1,185,401,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DHR. State Street Corp grew its stake in shares of Danaher by 1.7% in the fourth quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock valued at $6,345,529,000 after buying an additional 472,608 shares in the last quarter. Capital International Investors raised its holdings in shares of Danaher by 8.9% during the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock valued at $4,177,386,000 after buying an additional 1,487,768 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Danaher by 9.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate's stock worth $3,656,595,000 after acquiring an additional 1,334,221 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Danaher by 11.2% in the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate's stock worth $3,451,380,000 after acquiring an additional 1,517,904 shares during the period. Finally, Norges Bank purchased a new stake in shares of Danaher during the fourth quarter valued at approximately $2,177,106,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Stock Performance

Danaher stock opened at $196.29 on Friday. The company has a market cap of $137.99 billion, a PE ratio of 34.87, a P/E/G ratio of 2.45 and a beta of 0.79. The company has a fifty day moving average price of $187.90 and a two-hundred day moving average price of $195.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, June 26th. Danaher's dividend payout ratio is currently 28.42%.

Analyst Upgrades and Downgrades

DHR has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Danaher from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Piper Sandler started coverage on Danaher in a research note on Thursday, June 11th. They set a "neutral" rating and a $200.00 target price for the company. Morgan Stanley dropped their target price on Danaher from $270.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada boosted their price target on Danaher from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. One 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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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