KBC Group NV Sells 17,628 Shares of Danaher Corporation $DHR

Key Points

• KBC Group NV reduced its Danaher stake by 6.2% in the first quarter, selling 17,628 shares and leaving it with 266,867 shares valued at about $50.6 million.
• Danaher posted mixed quarterly results, with earnings of $2.06 per share beating estimates, while revenue of $5.95 billion came in slightly below expectations. Revenue still grew 3.7% year over year.
• The company announced a quarterly dividend of $0.40 per share, payable July 31, implying an annualized dividend of $1.60 and a yield of 0.8%.

KBC Group NV lessened its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,867 shares of the conglomerate's stock after selling 17,628 shares during the quarter. KBC Group NV's holdings in Danaher were worth $50,597,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Elevated Capital Advisors LLC bought a new position in shares of Danaher during the fourth quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new stake in shares of Danaher in the 4th quarter worth about $27,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock worth $29,000 after purchasing an additional 53 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Danaher during the 3rd quarter worth about $25,000. Finally, Main Street Group LTD bought a new position in Danaher during the 1st quarter valued at about $25,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Danaher Stock Down 1.0%

Shares of NYSE DHR opened at $201.70 on Tuesday. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The firm's 50-day simple moving average is $183.97 and its 200 day simple moving average is $198.04. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The company has a market cap of $142.76 billion, a price-to-earnings ratio of 39.01, a price-to-earnings-growth ratio of 2.51 and a beta of 0.79.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. During the same quarter last year, the company posted $1.88 EPS. The company's quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts expect that Danaher Corporation will post 8.45 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher's dividend payout ratio (DPR) is currently 30.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DHR shares. Robert W. Baird reduced their price target on shares of Danaher from $251.00 to $249.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. DZ Bank assumed coverage on shares of Danaher in a report on Wednesday, June 3rd. They set a "buy" rating and a $210.00 price objective for the company. The Goldman Sachs Group cut their target price on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Wolfe Research downgraded Danaher from an "outperform" rating to a "peer perform" rating in a report on Monday, June 1st. Finally, TD Cowen decreased their price target on Danaher from $245.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Danaher has a consensus rating of "Moderate Buy" and an average price target of $231.64.

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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