Putnam Investments LLC Has $630.07 Million Holdings in Danaher Co. (DHR)
Putnam Investments LLC raised its stake in Danaher Co. (NYSE:DHR) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,385,003 shares of the conglomerate’s stock after buying an additional 51,596 shares during the quarter. Danaher accounts for about 1.4% of Putnam Investments LLC’s portfolio, making the stock its 11th largest position. Putnam Investments LLC owned approximately 0.91% of Danaher worth $630,072,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in DHR. Parsons Capital Management Inc. RI lifted its stake in Danaher by 1.5% in the first quarter. Parsons Capital Management Inc. RI now owns 58,011 shares of the conglomerate’s stock valued at $5,680,000 after buying an additional 840 shares during the period. Engineers Gate Manager LP increased its holdings in shares of Danaher by 60.9% in the first quarter. Engineers Gate Manager LP now owns 23,892 shares of the conglomerate’s stock worth $2,339,000 after acquiring an additional 9,041 shares in the last quarter. Stevens Capital Management LP increased its holdings in shares of Danaher by 181.1% in the first quarter. Stevens Capital Management LP now owns 21,374 shares of the conglomerate’s stock worth $2,093,000 after acquiring an additional 13,770 shares in the last quarter. Timber Hill LLC bought a new stake in shares of Danaher in the first quarter worth about $226,000. Finally, Korea Investment CORP increased its holdings in shares of Danaher by 3.4% in the first quarter. Korea Investment CORP now owns 361,980 shares of the conglomerate’s stock worth $35,441,000 after acquiring an additional 11,766 shares in the last quarter. 76.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:DHR traded up $0.09 during mid-day trading on Friday, reaching $107.51. 5,149 shares of the stock were exchanged, compared to its average volume of 1,946,016. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.50. The company has a market cap of $74.03 billion, a PE ratio of 26.68, a PEG ratio of 2.02 and a beta of 1.03. Danaher Co. has a one year low of $83.81 and a one year high of $107.54.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, September 28th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.60%. Danaher’s payout ratio is presently 15.88%.
Several brokerages have issued reports on DHR. Zacks Investment Research downgraded Danaher from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Bank of America set a $113.00 price target on Danaher and gave the stock a “buy” rating in a report on Thursday, July 19th. Royal Bank of Canada increased their price target on Danaher to $107.00 and gave the stock a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Morgan Stanley increased their price target on Danaher from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, July 13th. Finally, ValuEngine downgraded Danaher from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $109.20.
In related news, EVP William K. Daniel sold 103,086 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $100.63, for a total transaction of $10,373,544.18. Following the completion of the transaction, the executive vice president now directly owns 167,080 shares in the company, valued at $16,813,260.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert S. Lutz sold 14,555 shares of the stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $103.93, for a total value of $1,512,701.15. Following the transaction, the senior vice president now owns 18,044 shares of the company’s stock, valued at $1,875,312.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 299,961 shares of company stock valued at $30,619,691. 11.90% of the stock is owned by corporate insiders.
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: How do investors use RSI to grade stocks?
Receive News & Ratings for Danaher Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaher and related companies with MarketBeat.com's FREE daily email newsletter.