Danaher Co. (DHR) Position Decreased by Welch & Forbes LLC
Welch & Forbes LLC lessened its stake in shares of Danaher Co. (NYSE:DHR) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 742,226 shares of the conglomerate’s stock after selling 2,773 shares during the period. Danaher accounts for approximately 1.9% of Welch & Forbes LLC’s investment portfolio, making the stock its 10th biggest position. Welch & Forbes LLC owned approximately 0.11% of Danaher worth $80,650,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DHR. FMR LLC raised its position in shares of Danaher by 10.3% during the 2nd quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock worth $2,073,369,000 after purchasing an additional 1,963,116 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Danaher by 77.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,718,200 shares of the conglomerate’s stock valued at $169,552,000 after acquiring an additional 750,000 shares during the last quarter. Bank of Montreal Can raised its holdings in Danaher by 113.3% in the 3rd quarter. Bank of Montreal Can now owns 1,069,328 shares of the conglomerate’s stock valued at $116,195,000 after acquiring an additional 567,990 shares during the last quarter. CIBC World Markets Inc. raised its holdings in Danaher by 2,228.2% in the 2nd quarter. CIBC World Markets Inc. now owns 525,287 shares of the conglomerate’s stock valued at $51,835,000 after acquiring an additional 502,725 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Danaher by 160.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 776,159 shares of the conglomerate’s stock valued at $76,592,000 after acquiring an additional 478,087 shares during the last quarter. Hedge funds and other institutional investors own 76.90% of the company’s stock.
Shares of Danaher stock traded down $0.61 during mid-day trading on Wednesday, hitting $104.44. The stock had a trading volume of 22,689 shares, compared to its average volume of 2,378,226. Danaher Co. has a 12-month low of $83.81 and a 12-month high of $110.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.50 and a quick ratio of 1.07. The stock has a market cap of $76.04 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. Danaher’s dividend payout ratio (DPR) is 15.88%.
A number of research firms have commented on DHR. Zacks Investment Research downgraded shares of Danaher from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. ValuEngine upgraded shares of Danaher from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Morgan Stanley increased their price objective on shares of Danaher from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. Finally, Royal Bank of Canada increased their price objective on shares of Danaher to $107.00 and gave the company a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.57.
In other news, Chairman Mitchell P. Rales purchased 1,080 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was acquired at an average price of $102.32 per share, with a total value of $110,505.60. Following the purchase, the chairman now directly owns 1,827,953 shares in the company, valued at approximately $187,036,150.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William K. Daniel sold 103,086 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $100.63, for a total transaction of $10,373,544.18. Following the completion of the sale, the executive vice president now directly owns 167,080 shares of the company’s stock, valued at approximately $16,813,260.40. The disclosure for this sale can be found here. In the last three months, insiders sold 299,961 shares of company stock valued at $30,619,691. Corporate insiders own 11.90% of the company’s stock.
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.
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