Davis Rea LTD. reduced its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 63.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,208 shares of the conglomerate's stock after selling 26,220 shares during the period. Davis Rea LTD.'s holdings in Danaher were worth $3,123,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Journey Strategic Wealth LLC increased its position in shares of Danaher by 41.7% during the first quarter. Journey Strategic Wealth LLC now owns 4,199 shares of the conglomerate's stock worth $861,000 after purchasing an additional 1,236 shares in the last quarter. SFE Investment Counsel increased its stake in Danaher by 37.8% in the first quarter. SFE Investment Counsel now owns 23,744 shares of the conglomerate's stock valued at $4,868,000 after purchasing an additional 6,517 shares during the period. Mendel Money Management increased its stake in Danaher by 1.5% in the first quarter. Mendel Money Management now owns 22,778 shares of the conglomerate's stock valued at $4,669,000 after purchasing an additional 331 shares during the period. Machina Capital S.A.S. increased its stake in Danaher by 39.1% in the first quarter. Machina Capital S.A.S. now owns 14,677 shares of the conglomerate's stock valued at $3,009,000 after purchasing an additional 4,125 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in shares of Danaher by 5.3% during the first quarter. Pinnacle Associates Ltd. now owns 26,457 shares of the conglomerate's stock worth $5,424,000 after acquiring an additional 1,323 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, EVP Christopher Paul Riley sold 15,805 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the sale, the executive vice president owned 15,179 shares of the company's stock, valued at approximately $3,005,442. This represents a 51.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the sale, the chairman directly owned 3,105,808 shares in the company, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their position. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.
Danaher Stock Performance
NYSE:DHR traded up $2.79 during trading hours on Friday, hitting $205.60. 5,355,676 shares of the company traded hands, compared to its average volume of 3,965,185. The stock has a market capitalization of $147.22 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 2.82 and a beta of 0.77. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70. The firm has a 50-day moving average of $196.38 and a 200 day moving average of $203.92. The company has a current ratio of 1.62, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.
Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data 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. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The business's revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that Danaher Corporation will post 7.63 EPS for the current year.
Danaher Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.62%. Danaher's dividend payout ratio is 27.23%.
Analyst Ratings Changes
DHR has been the topic of a number of recent analyst reports. Leerink Partners boosted their price target on shares of Danaher from $225.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on shares of Danaher from $210.00 to $205.00 and set an "equal weight" rating on the stock in a report on Wednesday. Jefferies Financial Group cut their price target 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. Finally, Argus dropped their price objective on shares of Danaher from $260.00 to $240.00 in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.
Check Out Our Latest Analysis on Danaher
Danaher Profile
(
Free Report)
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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