Danaher Corporation (NYSE:DHR) Position Reduced by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel has reduced its stake in Danaher Corporation by 26.1%, now owning 6,910 shares valued at approximately $1.42 million following the sale of 2,438 shares.
• Danaher reported earnings of $1.80 per share, exceeding analysts' expectations, with revenue for the quarter reaching $5.94 billion, a 3.4% increase from the previous year.
• The company declared a quarterly dividend of $0.32 per share, with an annualized dividend yield of 0.62% and a payout ratio of 27.23%.

Carnegie Investment Counsel trimmed its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 26.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,910 shares of the conglomerate's stock after selling 2,438 shares during the quarter. Carnegie Investment Counsel's holdings in Danaher were worth $1,417,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in DHR. Heck Capital Advisors LLC bought a new stake in Danaher in the 4th quarter valued at about $27,000. GHP Investment Advisors Inc. lifted its position in Danaher by 396.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after purchasing an additional 99 shares during the last quarter. Sierra Ocean LLC lifted its position in Danaher by 116.9% in the 1st quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock valued at $29,000 after purchasing an additional 76 shares during the last quarter. Hurley Capital LLC bought a new stake in Danaher in the 4th quarter valued at about $34,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Danaher in the 1st quarter valued at about $31,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Stock Performance

DHR stock opened at $205.60 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.62. The stock has a market cap of $147.22 billion, a P/E ratio of 43.74, a P/E/G ratio of 2.82 and a beta of 0.77. The firm has a 50 day simple moving average of $196.38 and a 200 day simple moving average of $203.92. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. Research analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, June 27th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.62%. Danaher's dividend payout ratio (DPR) is presently 27.23%.

Wall Street Analysts Forecast Growth

DHR has been the topic of several recent research reports. Argus cut their price objective on shares of Danaher from $260.00 to $240.00 in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $250.00 target price on shares of Danaher in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Danaher from $240.00 to $235.00 in a research note on Thursday, June 5th. Robert W. Baird raised their target price on shares of Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, Jefferies Financial Group lowered their target price on shares of Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

Insider Buying and Selling

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $196.74, for a total value of $245,925,000.00. Following the completion of the sale, the chairman directly owned 3,105,808 shares in the company, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the sale, the executive vice president owned 15,179 shares of the company's stock, valued at $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is owned by insiders.

Danaher 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.

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