Advisors Asset Management Inc. cut its stake in Danaher Corporation (NYSE:DHR) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,129 shares of the conglomerate’s stock after selling 352 shares during the quarter. Advisors Asset Management Inc.’s holdings in Danaher Corporation were worth $6,846,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in DHR. Waldron LP purchased a new position in shares of Danaher Corporation in the first quarter valued at $320,000. Canada Pension Plan Investment Board grew its position in shares of Danaher Corporation by 199.0% in the first quarter. Canada Pension Plan Investment Board now owns 506,067 shares of the conglomerate’s stock valued at $43,284,000 after purchasing an additional 336,800 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Danaher Corporation by 1.7% in the first quarter. Arcadia Investment Management Corp MI now owns 62,868 shares of the conglomerate’s stock valued at $5,377,000 after purchasing an additional 1,058 shares in the last quarter. Jennison Associates LLC grew its position in shares of Danaher Corporation by 57.3% in the first quarter. Jennison Associates LLC now owns 15,463 shares of the conglomerate’s stock valued at $1,323,000 after purchasing an additional 5,633 shares in the last quarter. Finally, Advisor Partners LLC grew its position in shares of Danaher Corporation by 23.9% in the first quarter. Advisor Partners LLC now owns 12,278 shares of the conglomerate’s stock valued at $1,050,000 after purchasing an additional 2,365 shares in the last quarter. Institutional investors own 75.68% of the company’s stock.
Danaher Corporation (DHR) opened at 86.46 on Thursday. The company’s 50-day moving average price is $82.99 and its 200 day moving average price is $84.20. Danaher Corporation has a 52-week low of $75.71 and a 52-week high of $88.62. The stock has a market capitalization of $60.06 billion, a PE ratio of 27.60 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Danaher Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts forecast that Danaher Corporation will post $3.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a $0.14 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. Danaher Corporation’s payout ratio is presently 17.83%.
In other Danaher Corporation news, Director Linda P. Hefner sold 10,578 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $83.03, for a total value of $878,291.34. Following the completion of the sale, the director now owns 42,151 shares in the company, valued at approximately $3,499,797.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William King sold 43,688 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the sale, the insider now owns 45,748 shares of the company’s stock, valued at approximately $3,790,679.28. The disclosure for this sale can be found here. Insiders sold a total of 71,496 shares of company stock valued at $5,916,223 in the last quarter. 12.20% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on the company. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $95.00 price target on shares of Danaher Corporation in a research report on Friday, September 8th. Janney Montgomery Scott cut Danaher Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 7th. BidaskClub upgraded Danaher Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Deutsche Bank AG reiterated a “buy” rating and issued a $97.00 price target on shares of Danaher Corporation in a research report on Wednesday, June 21st. Finally, Zacks Investment Research cut Danaher Corporation from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Danaher Corporation presently has an average rating of “Buy” and an average target price of $92.72.
Danaher Corporation Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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