Strs Ohio lowered its position in shares of Danaher Co. (NYSE:DHR) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 601,870 shares of the conglomerate’s stock after selling 56,293 shares during the quarter. Strs Ohio owned approximately 0.09% of Danaher worth $65,399,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Mitchell Capital Management Co. grew its position in shares of Danaher by 31.6% in the second quarter. Mitchell Capital Management Co. now owns 7,962 shares of the conglomerate’s stock valued at $786,000 after purchasing an additional 1,914 shares in the last quarter. Private Wealth Partners LLC grew its position in shares of Danaher by 14.3% in the second quarter. Private Wealth Partners LLC now owns 95,800 shares of the conglomerate’s stock valued at $9,454,000 after purchasing an additional 11,961 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Danaher by 12.5% in the second quarter. CIBC Asset Management Inc now owns 68,204 shares of the conglomerate’s stock valued at $6,730,000 after purchasing an additional 7,565 shares in the last quarter. OppenheimerFunds Inc. grew its position in shares of Danaher by 1.5% in the second quarter. OppenheimerFunds Inc. now owns 350,122 shares of the conglomerate’s stock valued at $34,550,000 after purchasing an additional 5,048 shares in the last quarter. Finally, Private Capital Group LLC grew its position in shares of Danaher by 445.0% in the first quarter. Private Capital Group LLC now owns 1,744 shares of the conglomerate’s stock valued at $171,000 after purchasing an additional 1,424 shares in the last quarter. 77.00% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Robert S. Lutz sold 14,555 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $103.93, for a total transaction of $1,512,701.15. Following the completion of the transaction, the senior vice president now directly owns 18,044 shares in the company, valued at $1,875,312.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William K. Daniel sold 103,086 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $100.63, for a total value of $10,373,544.18. Following the transaction, the executive vice president now owns 167,080 shares of the company’s stock, valued at $16,813,260.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 299,961 shares of company stock valued at $30,619,691. Company insiders own 11.90% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Robert W. Baird dropped their price target on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday. Zacks Investment Research lowered Danaher from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Royal Bank of Canada increased their price objective on Danaher to $107.00 and gave the stock a “positive” rating in a research report on Thursday, July 19th. They noted that the move was a valuation call. ValuEngine upgraded Danaher from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, Morgan Stanley increased their price objective on Danaher from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Friday, July 20th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $112.14.
Shares of Danaher stock opened at $100.39 on Friday. The company has a market capitalization of $70.84 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. Danaher Co. has a fifty-two week low of $90.05 and a fifty-two week high of $110.13. The company has a quick ratio of 1.07, a current ratio of 1.50 and a debt-to-equity ratio of 0.41.
Danaher (NYSE:DHR) last issued its quarterly earnings data on Thursday, October 18th. The conglomerate reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.03. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Danaher had a return on equity of 11.67% and a net margin of 14.07%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. Equities research analysts predict that Danaher Co. will post 4.5 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.64%. Danaher’s dividend payout ratio is currently 15.88%.
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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