Morningstar Investment Management LLC Decreases Holdings in Danaher Corporation $DHR

Key Points

• Morningstar Investment Management LLC cut its Danaher stake by 60.6% in the fourth quarter, selling 36,285 shares and leaving it with 23,610 shares worth about $5.4 million.
• Danaher reported better-than-expected earnings for the quarter, with EPS of $2.06 versus estimates of $1.94, while revenue came in at $5.95 billion, slightly below consensus but still up 3.7% year over year.
• The company also announced a quarterly dividend of $0.40 per share, payable July 31, and analysts currently rate the stock a Moderate Buy with a consensus price target of $238.65.

Morningstar Investment Management LLC cut its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 60.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,610 shares of the conglomerate's stock after selling 36,285 shares during the quarter. Morningstar Investment Management LLC's holdings in Danaher were worth $5,405,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DHR. Viking Global Investors LP increased its position in shares of Danaher by 543.9% during the 2nd quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate's stock valued at $574,351,000 after purchasing an additional 2,455,994 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Danaher by 104.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,333,056 shares of the conglomerate's stock valued at $991,923,000 after purchasing an additional 2,216,789 shares during the last quarter. Generation Investment Management LLP increased its position in shares of Danaher by 34.0% during the 3rd quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate's stock valued at $1,319,354,000 after purchasing an additional 1,689,020 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Danaher by 211.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,088,089 shares of the conglomerate's stock valued at $414,038,000 after purchasing an additional 1,418,243 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Danaher by 33.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,519,013 shares of the conglomerate's stock valued at $697,680,000 after purchasing an additional 891,210 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Up 0.1%

Shares of NYSE DHR opened at $172.12 on Monday. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The business has a 50-day simple moving average of $183.52 and a two-hundred day simple moving average of $208.70. 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 $121.82 billion, a P/E ratio of 33.29, a P/E/G ratio of 2.30 and a beta of 0.81.

Danaher (NYSE:DHR - Get Free Report) last issued its earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. During the same quarter last year, the company earned $1.88 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that Danaher Corporation will post 8.43 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a yield of 0.9%. Danaher's dividend payout ratio (DPR) is currently 30.95%.

Wall Street Analyst Weigh In

DHR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Danaher in a research note on Thursday, January 29th. Wells Fargo & Company cut their price target on Danaher from $240.00 to $212.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 22nd. Evercore increased their price target on Danaher from $225.00 to $232.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. The Goldman Sachs Group cut their price target on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 13th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $245.00 price target on shares of Danaher in a research note on Tuesday, April 21st. Nineteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Danaher has an average rating of "Moderate Buy" and a consensus price target of $238.65.

About Danaher

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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