Danaher Corporation $DHR Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC slightly reduced its Danaher stake in the fourth quarter, selling 6,166 shares and ending with 2,309,711 shares worth about $529.4 million. Danaher still made up roughly 1.4% of the firm’s holdings.
• Danaher’s stock was down 1.9% and opened at $177.85, with a market cap of $125.88 billion. The shares have traded between a 52-week low of $160.93 and a high of $242.80.
• The company recently beat earnings expectations with $2.06 EPS versus the $1.94 consensus, though revenue of $5.95 billion came in slightly below estimates. Danaher also announced a quarterly dividend of $0.40 per share, implying a 0.9% yield.

First Manhattan CO. LLC. trimmed its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,309,711 shares of the conglomerate's stock after selling 6,166 shares during the period. Danaher comprises about 1.4% of First Manhattan CO. LLC.'s holdings, making the stock its 12th biggest position. First Manhattan CO. LLC. owned about 0.33% of Danaher worth $529,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Enterprise Financial Services Corp lifted its position in shares of Danaher by 1.4% during the 4th quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock valued at $737,000 after acquiring an additional 46 shares during the period. Kennebec Savings Bank lifted its position in shares of Danaher by 1.4% during the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock valued at $766,000 after acquiring an additional 46 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Danaher by 2.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock valued at $428,000 after acquiring an additional 47 shares during the period. High Note Wealth LLC lifted its position in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after acquiring an additional 47 shares during the period. Finally, First Command Advisory Services Inc. lifted its position in shares of Danaher by 4.4% during the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after acquiring an additional 47 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Down 1.9%

DHR stock opened at $177.85 on Thursday. The stock has a market capitalization of $125.88 billion, a P/E ratio of 34.40, a PEG ratio of 2.31 and a beta of 0.81. 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 company has a 50 day moving average price of $180.26 and a two-hundred day moving average price of $203.59.

Danaher (NYSE:DHR - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. Danaher's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. As a group, sell-side analysts expect that Danaher Corporation will post 8.45 EPS for the current year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Danaher's payout ratio is currently 30.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DHR shares. Rothschild & Co Redburn set a $205.00 price target on shares of Danaher in a research report on Friday, April 17th. 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. Morgan Stanley reduced their price target on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 22nd. Robert W. Baird cut their price objective on Danaher from $251.00 to $249.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Finally, Wall Street Zen downgraded Danaher from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $233.61.

Danaher Company 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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