New York State Teachers Retirement System Reduces Position in Danaher Corporation $DHR

Key Points

• New York State Teachers Retirement System cut its stake in Danaher by 3.2% in Q4, selling 16,031 shares and now holds 481,930 shares valued at about $110.3 million (≈0.07% of the company).
• Danaher beat EPS estimates ($2.06 vs. $1.94) while revenue slightly missed ($5.95B vs. $6B), and the company raised its quarterly dividend to $0.40 (annualized $1.60, yield 0.9%).
• Analysts are generally positive with a consensus "Moderate Buy" and a $240.70 target despite mixed price-target revisions, while insiders own 10.8% and EVP Gregory Milosevich recently sold 1,320 shares, cutting his stake by 20.56%.

New York State Teachers Retirement System lowered its stake in Danaher Corporation (NYSE:DHR - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 481,930 shares of the conglomerate's stock after selling 16,031 shares during the period. New York State Teachers Retirement System owned 0.07% of Danaher worth $110,323,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DHR. Tyche Wealth Partners LLC bought a new stake in Danaher during the third quarter worth approximately $462,000. Bank Pictet & Cie Europe AG increased its holdings in shares of Danaher by 25.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate's stock worth $83,895,000 after purchasing an additional 74,301 shares during the period. Lockheed Martin Investment Management Co. raised its position in shares of Danaher by 49.4% during the third quarter. Lockheed Martin Investment Management Co. now owns 25,340 shares of the conglomerate's stock valued at $5,024,000 after buying an additional 8,380 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of Danaher by 2.9% in the third quarter. Johnson Investment Counsel Inc. now owns 664,705 shares of the conglomerate's stock valued at $131,784,000 after buying an additional 18,744 shares during the period. Finally, Resona Asset Management Co. Ltd. grew its position in Danaher by 4.6% during the third quarter. Resona Asset Management Co. Ltd. now owns 513,288 shares of the conglomerate's stock worth $100,071,000 after buying an additional 22,595 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Danaher

In other news, EVP Gregory M. Milosevich sold 1,320 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares of the company's stock, valued at $1,060,642.99. This represents a 20.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore boosted their price target on Danaher from $225.00 to $232.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. Barclays decreased their price objective on Danaher from $250.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, April 14th. Wall Street Zen cut Danaher from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. UBS Group reduced their target price on Danaher from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. Finally, KeyCorp reissued an "overweight" rating on shares of Danaher in a report on Thursday, January 29th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $240.70.

Danaher Stock Up 0.2%

Shares of NYSE:DHR opened at $179.19 on Friday. 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 firm has a market cap of $126.83 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.39 and a beta of 0.95. Danaher Corporation has a 12 month low of $175.00 and a 12 month high of $242.80. The company's 50-day moving average price is $193.34 and its two-hundred day moving average price is $213.15.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the business earned $1.88 earnings per share. Danaher's quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Danaher Corporation will post 8.43 EPS for the current fiscal year.

Danaher Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, March 27th were paid a $0.40 dividend. This is an increase from Danaher's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Danaher's payout ratio is 30.95%.

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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