Sumitomo Mitsui Trust Group Inc. Sells 222,495 Shares of Danaher Corporation $DHR

Key Points

• Sumitomo Mitsui Trust Group cut its Danaher stake by 10.6% in the first quarter, selling 222,495 shares and leaving it with 1.88 million shares valued at about $356.6 million.
• Danaher recently beat earnings expectations with quarterly EPS of $2.06 versus the $1.94 consensus, though revenue of $5.95 billion came in slightly below forecasts.
• Analysts remain generally positive, with a Moderate Buy consensus and an average price target of $233.52, while the stock was trading around $190.90 and was down 1.7% on the day.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,880,953 shares of the conglomerate's stock after selling 222,495 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Danaher worth $356,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Enterprise Financial Services Corp lifted its stake in Danaher by 1.4% during the fourth quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate's stock worth $737,000 after purchasing an additional 46 shares during the period. Kennebec Savings Bank grew its stake in shares of Danaher by 1.4% in the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate's stock valued at $766,000 after purchasing an additional 46 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Danaher by 2.6% in 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 period. High Note Wealth LLC raised its holdings in shares of Danaher by 19.2% in the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate's stock worth $67,000 after buying an additional 47 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in shares of Danaher by 4.4% in the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate's stock worth $253,000 after buying an additional 47 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DHR. JPMorgan Chase & Co. decreased their price target on Danaher from $275.00 to $245.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $245.00 price objective on shares of Danaher in a research note on Tuesday, April 21st. Royal Bank Of Canada assumed coverage on Danaher in a report on Thursday, May 14th. They set an "outperform" rating and a $200.00 price objective for the company. Argus reduced their target price on shares of Danaher from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Finally, DZ Bank started coverage on shares of Danaher in a report on Wednesday, June 3rd. They issued a "buy" rating and a $210.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Danaher presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.52.

Danaher Stock Down 1.7%

Shares of DHR opened at $190.90 on Thursday. The company has a market capitalization of $135.11 billion, a P/E ratio of 36.92, a PEG ratio of 2.48 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The business's 50 day simple moving average is $179.85 and its 200-day simple moving average is $199.68.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating 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 firm had revenue of $5.95 billion during the quarter, compared to analysts' expectations of $6 billion. During the same period last year, the firm posted $1.88 EPS. The business's revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Danaher Corporation will post 8.44 EPS for the current fiscal year.

Danaher Announces Dividend

The firm 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 $0.40 dividend. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher's dividend payout ratio (DPR) is 30.95%.

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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