Principal Financial Group Inc. Has $670.38 Million Stock Position in Danaher Corporation $DHR

Key Points

• Principal Financial Group cut its Danaher stake by 8.3% in Q4 and now holds about 2.93 million shares worth roughly $670.38 million, representing 0.41% of the company.
• Danaher beat EPS estimates ($2.06 vs. $1.94) while revenue slightly missed ($5.95B vs. $6B), with quarterly revenue up 3.7% year-over-year and analysts projecting about 8.43 EPS for the current year.
• Danaher boosted its quarterly dividend from $0.32 to $0.40 (annualized $1.60, ~0.9% yield) and maintains a consensus rating of Moderate Buy with an average price target near $240.70.

Principal Financial Group Inc. reduced its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,928,406 shares of the conglomerate's stock after selling 266,421 shares during the quarter. Principal Financial Group Inc. owned 0.41% of Danaher worth $670,375,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Elevated Capital Advisors LLC acquired a new stake in shares of Danaher during the 4th quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in shares of Danaher during the 3rd quarter worth $25,000. WFA of San Diego LLC acquired a new stake in shares of Danaher during the 2nd quarter worth $26,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Danaher during the 3rd quarter worth $27,000. Finally, Financial Life Planners acquired a new stake in shares of Danaher during the 3rd quarter worth $32,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Price Performance

Danaher stock opened at $174.29 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $123.36 billion, a PE ratio of 33.71, a P/E/G ratio of 2.34 and a beta of 0.81. Danaher Corporation has a 12 month low of $172.34 and a 12 month high of $242.80. The stock has a 50-day moving average price of $193.34 and a two-hundred day moving average price of $213.25.

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

Danaher Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Guggenheim reduced their target price on Danaher from $275.00 to $235.00 and set a "buy" rating on the stock in a report on Wednesday, April 22nd. UBS Group reduced their price objective on Danaher from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, April 22nd. KeyCorp reaffirmed an "overweight" rating on shares of Danaher in a research note on Thursday, January 29th. Robert W. Baird reduced their price objective on Danaher from $251.00 to $249.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Finally, Leerink Partners raised their price objective on Danaher from $260.00 to $270.00 and gave the company an "outperform" rating in a research note on Friday, January 16th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $240.70.

Insider Buying and Selling

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the transaction, the executive vice president directly owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.80% of the company's stock.

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.