Danaher Corporation (NYSE:DHR) Position Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 161,226 shares of the conglomerate's stock after selling 19,394 shares during the quarter. Teacher Retirement System of Texas' holdings in Danaher were worth $33,051,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in shares of Danaher by 7.7% in the first quarter. First Horizon Advisors Inc. now owns 5,294 shares of the conglomerate's stock valued at $1,085,000 after buying an additional 380 shares in the last quarter. Alley Investment Management Company LLC boosted its position in shares of Danaher by 0.4% during the 1st quarter. Alley Investment Management Company LLC now owns 44,504 shares of the conglomerate's stock worth $9,123,000 after acquiring an additional 177 shares in the last quarter. Fiduciary Group LLC boosted its position in shares of Danaher by 0.7% during the 1st quarter. Fiduciary Group LLC now owns 22,385 shares of the conglomerate's stock worth $4,589,000 after acquiring an additional 162 shares in the last quarter. Horizon Financial Services LLC lifted its holdings in shares of Danaher by 20,400.0% in the 1st quarter. Horizon Financial Services LLC now owns 8,200 shares of the conglomerate's stock valued at $1,681,000 after purchasing an additional 8,160 shares during the last quarter. Finally, Defender Capital LLC. lifted its holdings in shares of Danaher by 13.5% in the 1st quarter. Defender Capital LLC. now owns 156,543 shares of the conglomerate's stock valued at $32,091,000 after purchasing an additional 18,592 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on DHR shares. Bank of America reduced their target price on Danaher from $265.00 to $230.00 in a report on Monday, April 14th. Guggenheim reiterated a "buy" rating and set a $250.00 target price on shares of Danaher in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Danaher from $240.00 to $235.00 in a research note on Thursday, June 5th. Leerink Partners raised their price objective on Danaher from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered their target price on Danaher from $240.00 to $210.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Danaher has a consensus rating of "Moderate Buy" and an average price target of $248.61.

Insider Activity

In related news, EVP Christopher Paul Riley sold 15,805 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the sale, the executive vice president directly owned 15,179 shares of the company's stock, valued at $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven M. Rales sold 1,250,000 shares of the company's 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 transaction, the chairman directly owned 3,105,808 shares of the company's stock, valued at $611,036,665.92. This trade represents a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.20% of the stock is owned by insiders.

Danaher Stock Down 1.8%

Shares of DHR traded down $3.60 during midday trading on Monday, reaching $199.60. 2,388,352 shares of the company were exchanged, compared to its average volume of 3,495,259. The stock has a 50-day moving average price of $195.71 and a 200-day moving average price of $206.90. The company has a market cap of $142.85 billion, a price-to-earnings ratio of 38.76, a P/E/G ratio of 2.85 and a beta of 0.77. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $281.70. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Danaher had a return on equity of 10.80% and a net margin of 15.81%. The business had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.58 billion. Research analysts expect that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.64%. Danaher's dividend payout ratio is currently 24.85%.

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.