Sumitomo Mitsui Asset Management Company LTD lessened its stake in Danaher Corporation (NYSE:DHR) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,834 shares of the conglomerate’s stock after selling 1,553 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Danaher Corporation were worth $5,561,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DHR. Sullivan Bruyette Speros & Blaney LLC boosted its stake in shares of Danaher Corporation by 1.9% during the 1st quarter. Sullivan Bruyette Speros & Blaney LLC now owns 13,565 shares of the conglomerate’s stock valued at $1,160,000 after buying an additional 255 shares during the last quarter. Patton Albertson Miller Group LLC boosted its stake in shares of Danaher Corporation by 317.4% during the 1st quarter. Patton Albertson Miller Group LLC now owns 15,023 shares of the conglomerate’s stock valued at $1,249,000 after buying an additional 11,424 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Danaher Corporation during the 1st quarter valued at approximately $267,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Danaher Corporation during the 1st quarter valued at approximately $618,000. Finally, Alley Co LLC purchased a new position in shares of Danaher Corporation during the 1st quarter valued at approximately $2,173,000. Hedge funds and other institutional investors own 75.38% of the company’s stock.
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In other Danaher Corporation news, CAO Robert S. Lutz sold 11,189 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $91.66, for a total value of $1,025,583.74. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider William King sold 43,688 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the sale, the insider now directly owns 45,748 shares in the company, valued at $3,790,679.28. The disclosure for this sale can be found here. Insiders sold 279,628 shares of company stock worth $25,304,394 over the last ninety days. 12.20% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on the company. Zacks Investment Research cut Danaher Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Citigroup Inc. set a $96.00 target price on Danaher Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Cowen and Company reiterated a “buy” rating and set a $90.00 target price on shares of Danaher Corporation in a research note on Wednesday, October 4th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $95.00 target price on shares of Danaher Corporation in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Danaher Corporation presently has an average rating of “Buy” and an average price target of $93.31.
Shares of Danaher Corporation (NYSE DHR) opened at $93.19 on Wednesday. Danaher Corporation has a 52-week low of $76.27 and a 52-week high of $93.38. The company has a quick ratio of 1.00, a current ratio of 1.43 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $64,920.83, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02.
Danaher Corporation (NYSE:DHR) last issued its earnings results 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. Danaher Corporation 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 analyst estimates of $4.47 billion. During the same period last year, the company earned $0.87 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. equities analysts anticipate that Danaher Corporation will post 3.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, September 28th. Danaher Corporation’s dividend payout ratio is presently 16.52%.
Danaher Corporation Company 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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