State of Alaska Department of Revenue Decreases Stock Holdings in Danaher Corporation $DHR

Key Points

• State of Alaska Department of Revenue trimmed its stake in Danaher by 8.2% in Q4, selling 5,615 shares and leaving it with 62,500 shares valued at about $14.31 million.
• Danaher increased its quarterly dividend to $0.40 (from $0.32), a $1.60 annualized payout with a 0.8% yield (record date March 27, payable April 24).
• Danaher beat quarterly estimates with $2.23 EPS vs. $2.14 expected and $6.84 billion revenue, and analysts rate the stock a "Moderate Buy" with an average target of $251.35.

State of Alaska Department of Revenue trimmed its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,500 shares of the conglomerate's stock after selling 5,615 shares during the period. State of Alaska Department of Revenue's holdings in Danaher were worth $14,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Tyche Wealth Partners LLC purchased a new stake in Danaher during the third quarter valued at approximately $462,000. Bank Pictet & Cie Europe AG increased its holdings in Danaher by 25.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate's stock valued at $83,895,000 after buying an additional 74,301 shares during the last quarter. Lockheed Martin Investment Management Co. increased its holdings in 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. boosted its position 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 worth $131,784,000 after purchasing an additional 18,744 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its position in shares of Danaher by 4.6% in the third quarter. Resona Asset Management Co. Ltd. now owns 513,288 shares of the conglomerate's stock worth $100,071,000 after purchasing an additional 22,595 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the completion of the transaction, the executive vice president owned 5,099 shares in the company, valued at $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 is available through this link. 10.80% of the stock is owned by company insiders.

Danaher Stock Up 0.0%

DHR opened at $189.69 on Monday. The firm has a 50-day simple moving average of $201.03 and a two-hundred day simple moving average of $214.68. Danaher Corporation has a 52 week low of $178.78 and a 52 week high of $242.80. The company has a market capitalization of $134.24 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.57 and a beta of 0.95. The company has a quick ratio of 1.51, a current ratio of 1.87 and a debt-to-equity ratio of 0.35.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, beating the consensus estimate of $2.14 by $0.09. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.79 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The business's revenue was up 4.6% on a year-over-year basis. Analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, March 27th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.8%. This is an increase from Danaher's previous quarterly dividend of $0.32. The ex-dividend date is Friday, March 27th. Danaher's dividend payout ratio (DPR) is 31.75%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. KeyCorp reiterated an "overweight" rating on shares of Danaher in a research report on Thursday, January 29th. Wells Fargo & Company upped their price target on shares of Danaher from $230.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday, December 15th. The Goldman Sachs Group dropped their price target on shares of Danaher from $270.00 to $265.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. TD Cowen reiterated a "buy" rating on shares of Danaher in a research report on Wednesday, January 7th. Finally, Jefferies Financial Group dropped their price target on shares of Danaher from $265.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $251.35.

About Danaher

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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