Guinness Asset Management Ltd grew its position in shares of Danaher Co. (NYSE:DHR) by 18.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,360 shares of the conglomerate’s stock after purchasing an additional 10,680 shares during the quarter. Guinness Asset Management Ltd’s holdings in Danaher were worth $6,746,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Parsons Capital Management Inc. RI increased its holdings in Danaher by 1.5% in the 1st quarter. Parsons Capital Management Inc. RI now owns 58,011 shares of the conglomerate’s stock worth $5,680,000 after acquiring an additional 840 shares in the last quarter. Timber Hill LLC purchased a new stake in Danaher in the 1st quarter worth $226,000. Cambridge Investment Research Advisors Inc. increased its holdings in Danaher by 51.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 22,892 shares of the conglomerate’s stock worth $2,241,000 after acquiring an additional 7,751 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Danaher in the 1st quarter worth $7,943,000. Finally, BlackRock Inc. increased its holdings in Danaher by 6.2% in the 1st quarter. BlackRock Inc. now owns 43,526,564 shares of the conglomerate’s stock worth $4,261,685,000 after acquiring an additional 2,542,198 shares in the last quarter. 76.95% of the stock is owned by hedge funds and other institutional investors.
Shares of DHR opened at $106.57 on Monday. Danaher Co. has a 52-week low of $83.81 and a 52-week high of $107.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.50. The firm has a market cap of $74.03 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 2.02 and a beta of 1.03.
Danaher (NYSE:DHR) last announced its earnings results on Thursday, July 19th. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.06. Danaher had a net margin of 13.84% and a return on equity of 11.55%. The company had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.91 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. analysts forecast that Danaher Co. will post 4.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.64 annualized dividend and a yield of 0.60%. Danaher’s dividend payout ratio (DPR) is presently 15.88%.
DHR has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Danaher from a “buy” rating to a “hold” rating in a report on Friday, May 25th. ValuEngine lowered shares of Danaher from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Morgan Stanley boosted their price target on shares of Danaher from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Bank of America set a $113.00 price target on shares of Danaher and gave the stock a “buy” rating in a report on Thursday, July 19th. Finally, Royal Bank of Canada boosted their price target on shares of Danaher to $107.00 and gave the stock a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $109.20.
In other news, SVP Robert S. Lutz sold 14,555 shares of the business’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $103.93, for a total transaction of $1,512,701.15. Following the transaction, the senior vice president now owns 18,044 shares of the company’s stock, valued at approximately $1,875,312.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Daniel L. Comas sold 77,407 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $103.93, for a total transaction of $8,044,909.51. Following the transaction, the chief financial officer now directly owns 135,218 shares in the company, valued at approximately $14,053,206.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,961 shares of company stock worth $30,619,691. 11.90% of the stock is currently owned by corporate insiders.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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