DAVENPORT & Co LLC Lowers Holdings in Danaher Corporation $DHR

Key Points

• DAVENPORT & Co LLC reduced its stake in Danaher by 1.1%, selling 7,307 shares to hold 666,096 shares (about 0.09% of the company) valued at roughly $152.75 million at quarter-end.
• Danaher beat quarterly estimates (EPS $2.23 vs. $2.14; revenue $6.84B, +4.6% YoY) and raised its quarterly dividend to $0.40 (annualized $1.60, ~0.8% yield).
• Analysts are largely bullish—19 Buys vs. 3 Holds—resulting in a consensus "Moderate Buy" rating and an average price target of $253.55.

DAVENPORT & Co LLC reduced its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 666,096 shares of the conglomerate's stock after selling 7,307 shares during the period. DAVENPORT & Co LLC owned about 0.09% of Danaher worth $152,752,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in shares of Danaher during the third quarter worth $25,000. WFA of San Diego LLC purchased a new position in Danaher in the second quarter valued at $26,000. Howard Hughes Medical Institute acquired a new position in Danaher during the 2nd quarter worth $27,000. ANTIPODES PARTNERS Ltd acquired a new position in Danaher during the 3rd quarter worth $27,000. Finally, TruNorth Capital Management LLC purchased a new stake in Danaher during the 3rd quarter worth about $28,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Danaher in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Danaher in a research note on Thursday, January 29th. Robert W. Baird set a $251.00 price target on shares of Danaher in a research note on Thursday, January 29th. TD Cowen reiterated a "buy" rating on shares of Danaher in a report on Wednesday, January 7th. Finally, Wells Fargo & Company increased their price objective on shares of Danaher from $230.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday, December 15th. Nineteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Danaher presently has an average rating of "Moderate Buy" and an average target price of $253.55.

Danaher Stock Performance

Shares of Danaher stock opened at $190.04 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. Danaher Corporation has a 52 week low of $171.00 and a 52 week high of $242.80. The firm's 50 day moving average is $212.44 and its two-hundred day moving average is $214.90. The firm has a market capitalization of $134.38 billion, a P/E ratio of 37.71, a P/E/G ratio of 2.57 and a beta of 0.93.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.09. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.79 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The company's revenue was up 4.6% compared to the same quarter last year. Research analysts forecast that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be paid a $0.40 dividend. This is a boost from Danaher's previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, March 27th. Danaher's payout ratio is currently 25.40%.

Insider Transactions at Danaher

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares of the company's stock, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.20% of the stock is owned by corporate insiders.

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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