Manitou Investment Management Ltd. increased its position in shares of Danaher Co. (NYSE:DHR - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,931 shares of the conglomerate's stock after buying an additional 4,246 shares during the quarter. Danaher accounts for about 3.9% of Manitou Investment Management Ltd.'s portfolio, making the stock its 12th biggest holding. Manitou Investment Management Ltd.'s holdings in Danaher were worth $19,871,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Spinnaker Trust boosted its position in Danaher by 1.2% during the fourth quarter. Spinnaker Trust now owns 4,304 shares of the conglomerate's stock valued at $988,000 after purchasing an additional 50 shares during the last quarter. Fortis Capital Advisors LLC increased its holdings in Danaher by 1.3% during the fourth quarter. Fortis Capital Advisors LLC now owns 3,983 shares of the conglomerate's stock worth $914,000 after buying an additional 50 shares during the last quarter. Fayez Sarofim & Co lifted its stake in Danaher by 0.6% in the fourth quarter. Fayez Sarofim & Co now owns 8,287 shares of the conglomerate's stock valued at $1,902,000 after acquiring an additional 50 shares during the last quarter. Coastal Bridge Advisors LLC grew its position in shares of Danaher by 4.8% in the 4th quarter. Coastal Bridge Advisors LLC now owns 1,099 shares of the conglomerate's stock valued at $252,000 after acquiring an additional 50 shares during the period. Finally, Perennial Investment Advisors LLC increased its stake in shares of Danaher by 2.2% during the 4th quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate's stock worth $538,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.
Wall Street Analyst Weigh In
DHR has been the topic of several research analyst reports. TD Cowen upped their price objective on Danaher from $240.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird reduced their price objective on shares of Danaher from $231.00 to $225.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Citigroup restated a "buy" rating on shares of Danaher in a research note on Monday, April 7th. Finally, Argus reduced their price objective on Danaher from $260.00 to $240.00 in a report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Danaher has a consensus rating of "Moderate Buy" and an average price target of $248.17.
View Our Latest Report on DHR
Danaher Trading Up 1.7%
Shares of Danaher stock traded up $3.43 on Tuesday, hitting $202.63. 4,626,198 shares of the company's stock traded hands, compared to its average volume of 3,488,367. The company has a market capitalization of $145.02 billion, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. Danaher Co. has a one year low of $171.00 and a one year high of $281.70. The company has a fifty day moving average of $191.22 and a two-hundred day moving average of $211.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.05.
Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Danaher had a net margin of 16.33% and a return on equity of 10.82%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. As a group, sell-side analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.
Danaher Dividend Announcement
The firm also recently declared 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 annualized dividend and a yield of 0.63%. Danaher's payout ratio is 24.85%.
Insider Buying and Selling at Danaher
In related news, EVP Christopher Paul Riley sold 15,805 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction 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 approximately $3,005,442. This represents a 51.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven M. Rales sold 1,250,000 shares of Danaher 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 now directly owns 3,105,808 shares in the company, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.10% of the company's stock.
Danaher 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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