Rockefeller Capital Management L.P. Sells 92,474 Shares of Danaher Corporation $DHR

Key Points

• Rockefeller Capital Management cut its Danaher stake by 21.2% in the fourth quarter, selling 92,474 shares and leaving it with 343,207 shares valued at about $78.6 million.
• Wall Street remains cautiously positive on Danaher, with a consensus rating of “Moderate Buy” and an average price target of $233.61, though several firms recently trimmed their targets and one downgraded the stock.
• Danaher’s latest results and dividend were solid: quarterly EPS of $2.06 beat estimates, revenue grew 3.7% year over year, and the company announced a $0.40 quarterly dividend payable July 31.

Rockefeller Capital Management L.P. lowered its stake in Danaher Corporation (NYSE:DHR - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,207 shares of the conglomerate's stock after selling 92,474 shares during the period. Rockefeller Capital Management L.P.'s holdings in Danaher were worth $78,568,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DHR. Enterprise Financial Services Corp lifted its stake in shares of Danaher by 1.4% in the 4th quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock valued at $737,000 after purchasing an additional 46 shares during the last quarter. Kennebec Savings Bank boosted its holdings in shares of Danaher by 1.4% in the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock worth $766,000 after purchasing an additional 46 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Danaher by 2.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate's stock valued at $428,000 after purchasing an additional 47 shares during the last quarter. High Note Wealth LLC increased its position in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock valued at $67,000 after purchasing an additional 47 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in Danaher by 4.4% during the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock valued at $253,000 after buying an additional 47 shares during the period. 79.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on DHR. Wells Fargo & Company dropped their price objective on shares of Danaher from $240.00 to $212.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 22nd. Morgan Stanley reduced their target price on shares of Danaher from $270.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Robert W. Baird lowered their target price on shares of Danaher from $251.00 to $249.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Wolfe Research cut shares of Danaher from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 1st. Finally, Argus dropped their price target on shares of Danaher from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $233.61.

Danaher Price Performance

Shares of DHR stock opened at $177.74 on Friday. Danaher Corporation has a 52-week low of $160.93 and a 52-week high of $242.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The firm has a market capitalization of $125.80 billion, a P/E ratio of 34.38, a P/E/G ratio of 2.26 and a beta of 0.81. The stock has a 50 day moving average price of $179.62 and a 200 day moving average price of $203.07.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The company had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.Danaher's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 EPS. As a group, sell-side analysts predict that Danaher Corporation will post 8.45 earnings per share for the current year.

Danaher Announces Dividend

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