King Luther Capital Management Corp trimmed its stake in Danaher Corporation (NYSE:DHR – Free Report) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,368,617 shares of the conglomerate’s stock after selling 18,194 shares during the quarter. Danaher accounts for about 1.3% of King Luther Capital Management Corp’s holdings, making the stock its 18th largest position. King Luther Capital Management Corp’s holdings in Danaher were worth $313,304,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of DHR. Tyche Wealth Partners LLC bought a new position in shares of Danaher in the third quarter worth about $462,000. Bank Pictet & Cie Europe AG lifted its holdings in Danaher by 25.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock worth $83,895,000 after buying an additional 74,301 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Danaher by 2.9% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 664,705 shares of the conglomerate’s stock valued at $131,784,000 after buying an additional 18,744 shares during the period. Guinness Asset Management LTD lifted its stake in shares of Danaher by 13.7% during the third quarter. Guinness Asset Management LTD now owns 223,570 shares of the conglomerate’s stock valued at $41,597,000 after acquiring an additional 26,896 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in Danaher in the third quarter worth about $1,328,000. Institutional investors and hedge funds own 79.05% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the stock. Citigroup assumed coverage on shares of Danaher in a report on Tuesday. They set a “buy” rating and a $230.00 target price for the company. Argus lowered their target price on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 24th. TD Cowen dropped their price objective on Danaher from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. cut their price objective on Danaher from $275.00 to $245.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Danaher in a research report on Thursday, January 29th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.24.
Danaher Trading Up 0.6%
Shares of Danaher stock opened at $172.96 on Wednesday. The stock has a market cap of $122.42 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.30 and a beta of 0.81. Danaher Corporation has a 12-month low of $160.93 and a 12-month high of $242.80. The business’s 50 day moving average is $182.94 and its 200-day moving average is $208.13. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33.
Danaher (NYSE:DHR – Get Free Report) last issued its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the firm earned $1.88 EPS. Danaher’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Danaher Corporation will post 8.43 earnings per share for the current fiscal year.
Danaher Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Danaher’s dividend payout ratio is presently 30.95%.
Danaher Profile
Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.
Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.
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