King Luther Capital Management Corp reduced its position in shares of Danaher Corporation (NYSE:DHR) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,086,698 shares of the conglomerate’s stock after selling 4,734 shares during the quarter. Danaher comprises about 1.6% of King Luther Capital Management Corp’s portfolio, making the stock its 14th biggest position. King Luther Capital Management Corp owned approximately 0.30% of Danaher worth $178,997,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of DHR. Vanguard Group Inc. grew its holdings in shares of Danaher by 1.3% in the second quarter. Vanguard Group Inc. now owns 41,488,407 shares of the conglomerate’s stock valued at $3,501,206,000 after acquiring an additional 520,776 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Danaher by 3.2% in the second quarter. BlackRock Inc. now owns 39,201,798 shares of the conglomerate’s stock valued at $3,308,239,000 after acquiring an additional 1,233,876 shares in the last quarter. FMR LLC grew its holdings in shares of Danaher by 0.9% in the second quarter. FMR LLC now owns 19,624,350 shares of the conglomerate’s stock valued at $1,656,100,000 after acquiring an additional 183,183 shares in the last quarter. Parnassus Investments CA grew its holdings in shares of Danaher by 0.3% in the third quarter. Parnassus Investments CA now owns 9,796,584 shares of the conglomerate’s stock valued at $840,351,000 after acquiring an additional 29,381 shares in the last quarter. Finally, Flossbach Von Storch AG grew its holdings in shares of Danaher by 17.2% in the third quarter. Flossbach Von Storch AG now owns 6,776,921 shares of the conglomerate’s stock valued at $581,324,000 after acquiring an additional 994,902 shares in the last quarter. 76.32% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on DHR. Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price objective on shares of Danaher in a report on Tuesday, September 26th. Robert W. Baird increased their price objective on Danaher from $87.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Cowen reissued a “buy” rating and set a $90.00 price objective on shares of Danaher in a report on Wednesday, October 4th. Credit Suisse Group increased their price objective on Danaher from $93.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Morgan Stanley increased their price objective on Danaher from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, October 20th. One research 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. Danaher currently has an average rating of “Buy” and an average price target of $93.31.
Danaher (NYSE:DHR) last posted its earnings results on Thursday, October 19th. The conglomerate reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. Danaher had a return on equity of 11.29% and a net margin of 13.36%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the prior year, the business posted $0.87 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. sell-side analysts forecast that Danaher Corporation will post 3.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.60%. Danaher’s dividend payout ratio (DPR) is presently 16.52%.
In related news, Director Donald J. Ehrlich sold 10,578 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $90.82, for a total value of $960,693.96. Following the sale, the director now owns 104,621 shares in the company, valued at $9,501,679.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Patrick Joyce, Jr. sold 125,989 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.64, for a total value of $11,671,620.96. Following the completion of the transaction, the chief executive officer now directly owns 271,737 shares in the company, valued at approximately $25,173,715.68. The disclosure for this sale can be found here. Insiders sold 273,810 shares of company stock worth $25,218,813 in the last quarter. 12.20% of the stock is currently owned by company insiders.
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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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