DAVENPORT & Co LLC cut its stake in shares of Danaher Co. (NYSE:DHR) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 648,275 shares of the conglomerate’s stock after selling 3,549 shares during the quarter. Danaher makes up 1.6% of DAVENPORT & Co LLC’s portfolio, making the stock its 11th largest holding. DAVENPORT & Co LLC’s holdings in Danaher were worth $139,593,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Provident Wealth Management LLC bought a new position in shares of Danaher during the third quarter valued at $27,000. Howe & Rusling Inc. lifted its holdings in shares of Danaher by 81.4% during the second quarter. Howe & Rusling Inc. now owns 156 shares of the conglomerate’s stock valued at $28,000 after acquiring an additional 70 shares during the period. Semmax Financial Advisors Inc. bought a new position in shares of Danaher during the second quarter valued at $35,000. Trustcore Financial Services LLC lifted its holdings in shares of Danaher by 36.9% during the second quarter. Trustcore Financial Services LLC now owns 230 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 62 shares during the period. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Danaher by 33.9% in the second quarter. Cedar Mountain Advisors LLC now owns 241 shares of the conglomerate’s stock valued at $43,000 after buying an additional 61 shares in the last quarter. 78.01% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on DHR shares. Needham & Company LLC raised their target price on Danaher from $183.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Jefferies Financial Group lifted their price objective on Danaher from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Bank of America lifted their price objective on Danaher from $181.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. UBS Group lifted their price objective on Danaher from $176.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Robert W. Baird lifted their price objective on Danaher from $163.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $202.00.
Danaher (NYSE:DHR) last announced its quarterly earnings data on Thursday, July 23rd. The conglomerate reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.35. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.01 billion. Danaher had a net margin of 17.73% and a return on equity of 11.88%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. On average, analysts predict that Danaher Co. will post 5.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, September 28th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, September 25th. Danaher’s payout ratio is presently 16.29%.
In other Danaher news, SVP William King sold 26,982 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $199.09, for a total transaction of $5,371,846.38. Following the completion of the sale, the senior vice president now directly owns 29,821 shares of the company’s stock, valued at approximately $5,937,062.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angela S. Lalor sold 38,954 shares of Danaher stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $205.00, for a total value of $7,985,570.00. Following the transaction, the senior vice president now directly owns 52,445 shares in the company, valued at approximately $10,751,225. The disclosure for this sale can be found here. Insiders have sold a total of 530,474 shares of company stock worth $104,501,669 over the last three months. Insiders own 11.70% of the company’s stock.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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