Douglas Lane & Associates LLC boosted its stake in shares of Danaher Co. (NYSE:DHR - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,037 shares of the conglomerate's stock after purchasing an additional 20,322 shares during the quarter. Douglas Lane & Associates LLC's holdings in Danaher were worth $71,963,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Danaher by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 59,750,122 shares of the conglomerate's stock valued at $13,715,641,000 after acquiring an additional 315,912 shares during the period. Geode Capital Management LLC increased its position in shares of Danaher by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate's stock valued at $3,056,996,000 after purchasing an additional 315,446 shares during the period. Norges Bank acquired a new position in shares of Danaher in the fourth quarter valued at $2,130,740,000. Bank of New York Mellon Corp lifted its position in Danaher by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 8,589,019 shares of the conglomerate's stock worth $1,971,609,000 after purchasing an additional 441,012 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Danaher by 14.3% during the 4th quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate's stock worth $1,821,477,000 after acquiring an additional 992,594 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Danaher
In other news, EVP Christopher Paul Riley sold 15,805 shares of the firm'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 transaction, the executive vice president now owns 15,179 shares in the company, valued at $3,005,442. This trade represents a 51.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the 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 now directly owns 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. Company insiders own 11.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on DHR shares. Barclays increased their price objective on Danaher from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. HSBC dropped their target price on shares of Danaher from $270.00 to $240.00 in a research report on Friday, April 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Danaher in a research note on Wednesday, April 23rd. UBS Group cut their price target on Danaher from $275.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a report on Sunday. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $263.24.
Read Our Latest Stock Report on DHR
Danaher Stock Down 0.1%
Shares of Danaher stock traded down $0.21 during trading on Thursday, reaching $192.87. The stock had a trading volume of 1,324,549 shares, compared to its average volume of 3,470,236. The company has a current ratio of 1.40, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $138.03 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 2.66 and a beta of 0.80. The stock has a fifty day moving average price of $191.68 and a two-hundred day moving average price of $212.83. Danaher Co. has a 52 week low of $171.00 and a 52 week high of $281.70.
Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $5.74 billion for the quarter, compared to analysts' expectations of $5.58 billion. Danaher had a return on equity of 10.82% and a net margin of 16.33%. Sell-side analysts predict that Danaher Co. will post 7.63 EPS for the current fiscal year.
Danaher Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.66%. Danaher's dividend payout ratio (DPR) is currently 24.85%.
Danaher Company Profile
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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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