Mackenzie Financial Corp Lowers Stock Position in Danaher Corporation $DHR

Key Points

• Mackenzie Financial trimmed its stake in Danaher by 1.7% in Q3, selling 16,961 shares and leaving it with 963,670 shares (about 0.14% of the company) worth roughly $191.1 million.
• Danaher raised its quarterly dividend to $0.40 (from $0.32), an annualized $1.60 with a 0.8% yield and an ex-dividend date of March 27.
• Analysts are broadly positive—20 Buy vs. 3 Hold ratings with an average price target of $253.86 versus the recent share price near $195—and the company recently beat quarterly EPS and posted 4.6% revenue growth.

Mackenzie Financial Corp trimmed its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 963,670 shares of the conglomerate's stock after selling 16,961 shares during the quarter. Mackenzie Financial Corp owned 0.14% of Danaher worth $191,057,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DHR. WFA of San Diego LLC acquired a new position in Danaher during the 2nd quarter worth approximately $26,000. Howard Hughes Medical Institute purchased a new position in Danaher during the 2nd quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in Danaher in the 3rd quarter valued at $27,000. TruNorth Capital Management LLC purchased a new position in shares of Danaher during the third quarter worth about $28,000. Finally, Tripletail Wealth Management LLC purchased a new position in shares of Danaher in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Insider Buying and Selling

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the sale, the executive vice president owned 5,099 shares of the company's stock, valued at $1,060,642.99. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on DHR shares. Evercore reissued an "outperform" rating and issued a $254.00 price target on shares of Danaher in a report on Wednesday, January 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Danaher in a report on Monday, December 29th. TD Cowen reissued a "buy" rating on shares of Danaher in a research note on Wednesday, January 7th. Robert W. Baird set a $251.00 price target on Danaher in a research note on Thursday, January 29th. Finally, Wells Fargo & Company increased their price objective on shares of Danaher from $230.00 to $240.00 and gave the stock an "equal weight" rating in a report on Monday, December 15th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $253.86.

Danaher Stock Performance

NYSE:DHR opened at $195.32 on Wednesday. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $242.80. The firm's fifty day simple moving average is $221.18 and its 200 day simple moving average is $215.83. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $138.12 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 2.69 and a beta of 0.93.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.79 billion. During the same period last year, the business earned $2.14 EPS. The business's revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, March 27th. This is an increase from Danaher's previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Danaher's payout ratio is presently 25.40%.

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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