DekaBank Deutsche Girozentrale Sells 32,562 Shares of Danaher Corporation $DHR

Key Points

• DekaBank Deutsche Girozentrale reduced its stake in Danaher Corporation by 4.6%, selling 32,562 shares and owning 678,074 shares valued at approximately $135.57 million at the end of the latest quarter.
• Analysts have shown optimism towards Danaher, with 17 out of 23 rating it as a "Buy", resulting in a current average target price of $245.00.
• Danaher recently announced a quarterly dividend of $0.32 per share, reflecting a 0.6% dividend yield and a payout ratio of 27.23%.

DekaBank Deutsche Girozentrale reduced its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 4.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 678,074 shares of the conglomerate's stock after selling 32,562 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.09% of Danaher worth $135,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Danaher by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 59,981,088 shares of the conglomerate's stock valued at $12,296,123,000 after buying an additional 230,966 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Danaher by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,592,211 shares of the conglomerate's stock valued at $4,016,404,000 after buying an additional 612,154 shares during the period. Bank of New York Mellon Corp raised its holdings in Danaher by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock valued at $1,800,614,000 after buying an additional 194,466 shares during the period. Invesco Ltd. raised its holdings in Danaher by 44.5% during the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock valued at $965,259,000 after buying an additional 1,450,703 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Danaher by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,230,087 shares of the conglomerate's stock valued at $867,168,000 after buying an additional 163,332 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on DHR shares. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Scotiabank upgraded Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target on the stock in a report on Friday, July 11th. Guggenheim restated a "buy" rating and set a $250.00 price target on shares of Danaher in a report on Wednesday, July 23rd. UBS Group reduced their target price on Danaher from $240.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Danaher in a research note on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Danaher presently has an average rating of "Moderate Buy" and an average target price of $245.00.

Danaher Stock Performance

DHR stock opened at $208.06 on Tuesday. The firm has a market cap of $148.98 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 2.98 and a beta of 0.77. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $274.21. The business's fifty day simple moving average is $201.76 and its two-hundred day simple moving average is $197.42.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. Analysts predict that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, September 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. Danaher's dividend payout ratio (DPR) is currently 27.23%.

Insider Activity at Danaher

In other news, Director Teri List sold 2,778 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the transaction, the director owned 20,751 shares in the company, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 11.20% of the company's stock.

About Danaher

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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.