Danaher Co. (DHR) Stake Lessened by New Mexico Educational Retirement Board

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New Mexico Educational Retirement Board lowered its stake in shares of Danaher Co. (NYSE:DHR) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,785 shares of the conglomerate’s stock after selling 1,800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Danaher were worth $5,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Danaher by 2.4% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 71,651 shares of the conglomerate’s stock valued at $7,786,000 after acquiring an additional 1,651 shares in the last quarter. Mitchell Capital Management Co. increased its holdings in Danaher by 31.6% in the 2nd quarter. Mitchell Capital Management Co. now owns 7,962 shares of the conglomerate’s stock worth $786,000 after buying an additional 1,914 shares during the period. Bainco International Investors increased its holdings in Danaher by 2.6% in the 3rd quarter. Bainco International Investors now owns 66,878 shares of the conglomerate’s stock worth $7,267,000 after buying an additional 1,725 shares during the period. Inverness Counsel LLC NY increased its holdings in Danaher by 0.5% in the 3rd quarter. Inverness Counsel LLC NY now owns 416,828 shares of the conglomerate’s stock worth $45,293,000 after buying an additional 1,951 shares during the period. Finally, Private Wealth Partners LLC increased its holdings in Danaher by 14.3% in the 2nd quarter. Private Wealth Partners LLC now owns 95,800 shares of the conglomerate’s stock worth $9,454,000 after buying an additional 11,961 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

In other news, insider William King sold 53,433 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $101.64, for a total transaction of $5,430,930.12. Following the transaction, the insider now owns 36,425 shares in the company, valued at approximately $3,702,237. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donald J. Ehrlich sold 10,578 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $95.77, for a total value of $1,013,055.06. Following the transaction, the director now owns 105,491 shares in the company, valued at approximately $10,102,873.07. The disclosure for this sale can be found here. Insiders have sold a total of 150,007 shares of company stock worth $15,202,163 in the last quarter. Insiders own 11.90% of the company’s stock.

DHR has been the topic of several research reports. Zacks Investment Research upgraded shares of Danaher from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Wednesday, September 19th. Morgan Stanley upped their price objective on Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 10th. Finally, Robert W. Baird lowered their price objective on Danaher from $116.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $112.54.

Danaher stock traded up $1.02 during mid-day trading on Wednesday, hitting $101.74. The company had a trading volume of 22,992 shares, compared to its average volume of 2,472,905. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. Danaher Co. has a 12-month low of $91.84 and a 12-month high of $110.86. The firm has a market cap of $70.35 billion, a PE ratio of 25.18, a P/E/G ratio of 1.97 and a beta of 1.06.

Danaher (NYSE:DHR) last announced its earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. Danaher had a return on equity of 11.59% and a net margin of 14.07%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Danaher Co. will post 4.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Friday, December 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.63%. Danaher’s dividend payout ratio (DPR) is 15.88%.

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About Danaher

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.

Further Reading: Catch-Up Contributions

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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