RMB Capital Management LLC lowered its holdings in Danaher Co. (NYSE:DHR) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,467 shares of the conglomerate’s stock after selling 10,332 shares during the period. Danaher comprises about 2.2% of RMB Capital Management LLC’s portfolio, making the stock its 2nd largest holding. RMB Capital Management LLC’s holdings in Danaher were worth $51,780,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Provident Wealth Management LLC bought a new position in Danaher in the third quarter valued at $27,000. Price Wealth LLC grew its position in shares of Danaher by 75.6% in the 3rd quarter. Price Wealth LLC now owns 137 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 59 shares during the period. Newfound Research LLC bought a new position in shares of Danaher in the 3rd quarter valued at about $37,000. Atlas Private Wealth Management bought a new position in shares of Danaher in the 3rd quarter valued at about $41,000. Finally, Oakworth Capital Inc. grew its position in shares of Danaher by 48.9% in the 3rd quarter. Oakworth Capital Inc. now owns 198 shares of the conglomerate’s stock valued at $43,000 after acquiring an additional 65 shares during the period. 69.16% of the stock is owned by institutional investors and hedge funds.
Danaher stock traded down $0.07 during midday trading on Friday, hitting $225.76. The company’s stock had a trading volume of 2,353,100 shares, compared to its average volume of 2,864,974. Danaher Co. has a 1-year low of $119.60 and a 1-year high of $248.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.08 and a quick ratio of 1.68. The company has a 50-day moving average price of $229.08 and a two-hundred day moving average price of $197.58. The company has a market cap of $160.37 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.95 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, September 28th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Friday, September 25th. Danaher’s dividend payout ratio (DPR) is 16.29%.
In other Danaher news, EVP Daniel L. Comas sold 54,402 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $233.25, for a total value of $12,689,266.50. Following the transaction, the executive vice president now directly owns 130,161 shares of the company’s stock, valued at approximately $30,360,053.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert S. Lutz sold 24,594 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $233.19, for a total transaction of $5,735,074.86. Following the completion of the transaction, the chief accounting officer now directly owns 43,544 shares in the company, valued at $10,154,025.36. The disclosure for this sale can be found here. Insiders sold a total of 224,248 shares of company stock valued at $49,077,431 in the last quarter. Corporate insiders own 11.70% of the company’s stock.
A number of research analysts have recently commented on the stock. Needham & Company LLC lifted their price objective on shares of Danaher from $209.00 to $272.00 in a research report on Tuesday, October 27th. Jefferies Financial Group lifted their price objective on shares of Danaher from $190.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group lifted their price objective on shares of Danaher from $176.00 to $233.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Stifel Nicolaus raised their target price on shares of Danaher from $170.00 to $210.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company restated a “buy” rating and set a $234.00 target price on shares of Danaher in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Danaher has an average rating of “Buy” and an average price target of $217.19.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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