Resona Asset Management Co. Ltd. Cuts Position in Danaher Corporation $DHR

Key Points

• Resona Asset Management cut its Danaher stake by 12.7% in the fourth quarter, selling 65,238 shares and ending with 448,050 shares worth about $102.8 million.
• Danaher’s latest quarterly earnings beat expectations, posting $2.06 EPS versus the $1.94 consensus, though revenue of $5.95 billion slightly missed estimates.
• Analyst sentiment remains constructive overall, with 19 Buy ratings and 3 Holds; the consensus price target is $238.65, even as several firms recently trimmed their targets.

Resona Asset Management Co. Ltd. lessened its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,050 shares of the conglomerate's stock after selling 65,238 shares during the period. Resona Asset Management Co. Ltd. owned about 0.06% of Danaher worth $102,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DHR. Sivia Capital Partners LLC grew its position in Danaher by 6.3% in the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate's stock worth $397,000 after acquiring an additional 119 shares during the period. First Trust Advisors LP grew its position in Danaher by 34.5% in the second quarter. First Trust Advisors LP now owns 55,418 shares of the conglomerate's stock worth $10,947,000 after acquiring an additional 14,217 shares during the period. Main Street Financial Solutions LLC grew its position in Danaher by 40.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,088 shares of the conglomerate's stock worth $610,000 after acquiring an additional 886 shares during the period. Ieq Capital LLC grew its position in Danaher by 64.2% in the second quarter. Ieq Capital LLC now owns 75,714 shares of the conglomerate's stock worth $14,957,000 after acquiring an additional 29,592 shares during the period. Finally, HUB Investment Partners LLC grew its position in Danaher by 30.7% in the second quarter. HUB Investment Partners LLC now owns 1,383 shares of the conglomerate's stock worth $273,000 after acquiring an additional 325 shares during the period. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Argus lowered their price objective on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Danaher in a research report on Friday, March 27th. TD Cowen lowered their price objective on Danaher from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. The Goldman Sachs Group lowered their price objective on Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 13th. Finally, Wells Fargo & Company lowered their price objective on Danaher from $240.00 to $212.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $238.65.

Danaher Stock Up 1.3%

NYSE:DHR opened at $164.08 on Tuesday. 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 stock's fifty day moving average is $185.54 and its two-hundred day moving average is $209.93. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The stock has a market capitalization of $116.13 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 2.16 and a beta of 0.81.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company had revenue of $5.95 billion for the quarter, compared to analysts' expectations of $6 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. 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 EPS for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 26th. Danaher's dividend payout ratio (DPR) is presently 30.95%.

Insider Activity

In other news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $208.01, for a total value of $274,573.20. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.80% of the company's stock.

Danaher 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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