Public Employees Retirement Association of Colorado Lowers Stake in Danaher Corp. (DHR)
Public Employees Retirement Association of Colorado decreased its position in shares of Danaher Corp. (NYSE:DHR) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450,974 shares of the company’s stock after selling 5,696 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Danaher Corp. were worth $45,548,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of DHR. State Street Corp increased its stake in shares of Danaher Corp. by 0.6% in the first quarter. State Street Corp now owns 22,646,064 shares of the company’s stock worth $2,148,210,000 after buying an additional 129,215 shares during the period. BlackRock Fund Advisors increased its stake in shares of Danaher Corp. by 3.3% in the first quarter. BlackRock Fund Advisors now owns 6,928,859 shares of the company’s stock worth $657,272,000 after buying an additional 218,791 shares during the period. Geode Capital Management LLC increased its stake in shares of Danaher Corp. by 5.4% in the first quarter. Geode Capital Management LLC now owns 4,873,827 shares of the company’s stock worth $461,393,000 after buying an additional 249,921 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Danaher Corp. by 11.6% in the first quarter. UBS Asset Management Americas Inc. now owns 4,068,557 shares of the company’s stock worth $385,943,000 after buying an additional 421,790 shares during the period. Finally, Findlay Park Partners LLP increased its stake in shares of Danaher Corp. by 1.0% in the first quarter. Findlay Park Partners LLP now owns 3,378,763 shares of the company’s stock worth $320,509,000 after buying an additional 34,303 shares during the period. 75.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Danaher Corp. (NYSE:DHR) traded down 0.05% during midday trading on Monday, hitting $78.21. The stock had a trading volume of 837,659 shares. The firm has a market capitalization of $54.01 billion, a PE ratio of 15.55 and a beta of 1.13. Danaher Corp. has a 1-year low of $61.60 and a 1-year high of $82.64. The company’s 50 day moving average price is $78.73 and its 200-day moving average price is $76.66.
Danaher Corp. (NYSE:DHR) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.03. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the business earned $1.08 EPS. Danaher Corp.’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts predict that Danaher Corp. will post $3.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 0.64%. Danaher Corp.’s dividend payout ratio (DPR) is currently 9.94%.
A number of analysts have recently issued reports on the company. Goldman Sachs Group Inc. assumed coverage on Danaher Corp. in a report on Tuesday, July 5th. They issued a “neutral” rating and a $74.00 target price for the company. Sanford C. Bernstein upgraded Danaher Corp. from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Thursday, June 23rd. JPMorgan Chase & Co. restated a “buy” rating and issued a $105.00 target price on shares of Danaher Corp. in a report on Thursday, June 30th. Citigroup Inc. increased their target price on Danaher Corp. from $102.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, June 13th. Finally, Zacks Investment Research lowered Danaher Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $93.10.
In related news, CFO Daniel L. Comas sold 96,446 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total value of $7,800,552.48. Following the transaction, the chief financial officer now owns 215,716 shares in the company, valued at approximately $17,447,110.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the transaction, the insider now owns 179,054 shares in the company, valued at approximately $14,582,157.76. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.
About Danaher Corp.
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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