Manitou Investment Management Ltd. trimmed its position in Danaher Corporation (NYSE:DHR - Free Report) by 81.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,357 shares of the conglomerate's stock after selling 78,574 shares during the period. Danaher comprises about 0.7% of Manitou Investment Management Ltd.'s investment portfolio, making the stock its 14th largest position. Manitou Investment Management Ltd.'s holdings in Danaher were worth $3,626,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Danaher by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 59,981,088 shares of the conglomerate's stock worth $12,296,123,000 after acquiring an additional 230,966 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $4,016,404,000 after acquiring an additional 612,154 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $1,800,614,000 after acquiring an additional 194,466 shares during the period. Invesco Ltd. increased its position in Danaher by 44.5% during the 1st quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock worth $965,259,000 after purchasing an additional 1,450,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 worth $867,168,000 after purchasing an additional 163,332 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Danaher Stock Performance
Shares of DHR opened at $202.53 on Friday. The business's fifty day moving average price is $200.66 and its 200 day moving average price is $197.16. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.41. The stock has a market capitalization of $145.02 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 2.88 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22.
Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.83 billion. During the same period last year, the business posted $1.72 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Equities research analysts forecast that Danaher Corporation will post 7.63 EPS for the current year.
Danaher Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 yield of 0.6%. Danaher's dividend payout ratio (DPR) is 27.23%.
Analysts Set New Price Targets
A number of analysts recently issued reports on DHR shares. UBS Group dropped their target price on shares of Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Robert W. Baird increased their target price on shares of Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Redburn Partners set a $220.00 target price on shares of Danaher in a research report on Wednesday. Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price for the company in a research report on Friday, July 11th. Finally, Bank of America dropped their target price on shares of Danaher from $230.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, September 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Danaher currently has an average rating of "Moderate Buy" and a consensus target price of $244.60.
Check Out Our Latest Analysis on Danaher
Insider Transactions at Danaher
In related 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 directly owned 20,751 shares in the company, valued at $4,379,706.06. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.10% of the stock is owned by company insiders.
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.
See Also
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