New York State Teachers Retirement System Trims Stake in Danaher Corporation $DHR

Key Points

• The New York State Teachers Retirement System reduced its stake in Danaher Corporation by 0.3%, now holding approximately 505,201 shares valued at $99.8 million.
• Danaher reported quarterly earnings of $1.80 EPS, surpassing the consensus estimate of $1.64, with revenue increasing 3.4% year-over-year to reach $5.94 billion.
• The company announced a quarterly dividend of $0.32 per share, representing a 0.6% dividend yield and a payout ratio of 27.23%.

New York State Teachers Retirement System lowered its stake in Danaher Corporation (NYSE:DHR - Free Report) by 0.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 505,201 shares of the conglomerate's stock after selling 1,569 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Danaher worth $99,797,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Dash Acquisitions Inc. lifted its stake in shares of Danaher by 2.6% during the 2nd quarter. Dash Acquisitions Inc. now owns 81,185 shares of the conglomerate's stock worth $16,066,000 after purchasing an additional 2,070 shares during the period. Generali Asset Management SPA SGR lifted its stake in shares of Danaher by 15.0% during the 2nd quarter. Generali Asset Management SPA SGR now owns 62,997 shares of the conglomerate's stock worth $12,444,000 after purchasing an additional 8,237 shares during the period. Tuttle Capital Management LLC lifted its stake in shares of Danaher by 14.9% during the 2nd quarter. Tuttle Capital Management LLC now owns 2,679 shares of the conglomerate's stock worth $529,000 after purchasing an additional 348 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Danaher by 28.7% during the 2nd quarter. Ritholtz Wealth Management now owns 8,327 shares of the conglomerate's stock worth $1,645,000 after purchasing an additional 1,858 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Danaher by 5.5% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 152,837 shares of the conglomerate's stock worth $30,179,000 after purchasing an additional 7,996 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Stock Up 0.1%

Shares of NYSE DHR opened at $206.32 on Thursday. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.41. The company has a market cap of $147.73 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.94 and a beta of 0.77. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $201.18 and a 200 day moving average price of $197.19.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the firm earned $1.72 EPS. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 0.6%. Danaher's dividend payout ratio (DPR) is currently 27.23%.

Analyst Ratings Changes

A number of brokerages have weighed in on DHR. Scotiabank raised Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target on the stock in a research note on Friday, July 11th. Rothschild & Co Redburn restated a "neutral" rating and set a $220.00 price objective (down from $245.00) on shares of Danaher in a report on Wednesday, October 8th. Redburn Partners set a $220.00 price objective on Danaher in a report on Wednesday, October 8th. Robert W. Baird upped their price objective on Danaher from $225.00 to $226.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Danaher in a report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $244.60.

Insider Buying and Selling at Danaher

In other news, Director Teri List sold 2,778 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by corporate insiders.

About Danaher

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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.