State Board of Administration of Florida Retirement System raised its stake in shares of Danaher Corporation (NYSE:DHR) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 877,076 shares of the conglomerate’s stock after purchasing an additional 10,020 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Danaher Corporation worth $75,236,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Wedge Capital Management L L P NC grew its holdings in Danaher Corporation by 1.4% during the third quarter. Wedge Capital Management L L P NC now owns 462,466 shares of the conglomerate’s stock valued at $39,670,000 after purchasing an additional 6,281 shares during the last quarter. Middleton & Co Inc MA grew its holdings in Danaher Corporation by 8.0% during the third quarter. Middleton & Co Inc MA now owns 159,944 shares of the conglomerate’s stock valued at $13,720,000 after purchasing an additional 11,810 shares during the last quarter. ARP Americas LLC acquired a new position in Danaher Corporation during the third quarter valued at approximately $205,000. Buffington Mohr McNeal boosted its position in shares of Danaher Corporation by 2.4% in the third quarter. Buffington Mohr McNeal now owns 59,480 shares of the conglomerate’s stock valued at $5,487,000 after acquiring an additional 1,386 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Danaher Corporation by 28.0% in the third quarter. Canada Pension Plan Investment Board now owns 840,267 shares of the conglomerate’s stock valued at $72,078,000 after acquiring an additional 183,800 shares during the period. Institutional investors own 75.38% of the company’s stock.
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Danaher Corporation (NYSE:DHR) last issued its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.05. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Danaher Corporation had a return on equity of 11.29% and a net margin of 13.36%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. analysts predict that Danaher Corporation will post 3.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.60%. Danaher Corporation’s payout ratio is presently 16.52%.
Several research firms have recently weighed in on DHR. Robert W. Baird increased their price objective on Danaher Corporation from $87.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Credit Suisse Group increased their price objective on Danaher Corporation from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Morgan Stanley increased their price objective on Danaher Corporation from $95.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Zacks Investment Research raised Danaher Corporation from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Thursday, October 5th. Finally, Cowen and Company reissued a “buy” rating and issued a $90.00 price objective on shares of Danaher Corporation in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $93.31.
In other Danaher Corporation news, CAO Robert S. Lutz sold 11,189 shares of Danaher Corporation stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $91.66, for a total transaction of $1,025,583.74. Following the completion of the transaction, the chief accounting officer now directly owns 18,314 shares of the company’s stock, valued at $1,678,661.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William King sold 43,688 shares of Danaher Corporation stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total value of $3,619,987.68. Following the transaction, the insider now directly owns 45,748 shares of the company’s stock, valued at $3,790,679.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,498 shares of company stock valued at $28,838,801. Company insiders own 12.20% of the company’s stock.
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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