Arrowstreet Capital Limited Partnership lifted its holdings in shares of Danaher Corporation (NYSE:DHR) by 16,410.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,485,901 shares of the conglomerate’s stock after acquiring an additional 1,476,901 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.21% of Danaher Corporation worth $125,395,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norway Savings Bank increased its holdings in Danaher Corporation by 0.4% in the second quarter. Norway Savings Bank now owns 2,238 shares of the conglomerate’s stock valued at $189,000 after buying an additional 10 shares during the last quarter. First Financial Corp IN increased its holdings in Danaher Corporation by 0.8% in the second quarter. First Financial Corp IN now owns 2,720 shares of the conglomerate’s stock valued at $230,000 after buying an additional 21 shares during the last quarter. Brighton Jones LLC increased its holdings in Danaher Corporation by 0.4% in the second quarter. Brighton Jones LLC now owns 5,159 shares of the conglomerate’s stock valued at $435,000 after buying an additional 21 shares during the last quarter. Guardian Life Insurance Co. of America increased its holdings in Danaher Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 2,356 shares of the conglomerate’s stock valued at $202,000 after buying an additional 24 shares during the last quarter. Finally, Buckingham Asset Management LLC increased its holdings in Danaher Corporation by 0.4% in the second quarter. Buckingham Asset Management LLC now owns 5,778 shares of the conglomerate’s stock valued at $488,000 after buying an additional 24 shares during the last quarter. 75.49% of the stock is currently owned by institutional investors and hedge funds.
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Danaher Corporation (NYSE:DHR) last posted its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.05. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.47 billion. Danaher Corporation had a net margin of 13.36% and a return on equity of 11.29%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 28th. Danaher Corporation’s payout ratio is 16.52%.
In other news, CFO Daniel L. Comas sold 88,184 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $91.02, for a total transaction of $8,026,507.68. Following the completion of the sale, the chief financial officer now owns 227,816 shares of the company’s stock, valued at $20,735,812.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $90.82, for a total transaction of $960,693.96. Following the sale, the director now directly owns 104,621 shares of the company’s stock, valued at approximately $9,501,679.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,639 shares of company stock valued at $13,632,773. Company insiders own 12.20% of the company’s stock.
Several analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Danaher Corporation in a report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 price objective for the company. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $83.00 price objective on shares of Danaher Corporation in a report on Tuesday, September 26th. Jefferies Group LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Danaher Corporation in a report on Friday, August 4th. BidaskClub lowered Danaher Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research lowered Danaher Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $93.31.
About Danaher Corporation
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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