Danaher Co. (NYSE:DHR) Position Cut by M&T Bank Corp

M&T Bank Corp lowered its holdings in shares of Danaher Co. (NYSE:DHR) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,919 shares of the conglomerate’s stock after selling 7,922 shares during the period. M&T Bank Corp owned approximately 0.07% of Danaher worth $114,032,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Malaga Cove Capital LLC lifted its holdings in shares of Danaher by 15.8% in the fourth quarter. Malaga Cove Capital LLC now owns 4,339 shares of the conglomerate’s stock valued at $1,004,000 after buying an additional 591 shares during the period. Stokes Family Office LLC lifted its holdings in Danaher by 8.0% in the 4th quarter. Stokes Family Office LLC now owns 2,225 shares of the conglomerate’s stock valued at $515,000 after acquiring an additional 165 shares during the last quarter. Bordeaux Wealth Advisors LLC boosted its position in shares of Danaher by 9.4% during the 4th quarter. Bordeaux Wealth Advisors LLC now owns 4,241 shares of the conglomerate’s stock valued at $981,000 after purchasing an additional 363 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Danaher by 151.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,265 shares of the conglomerate’s stock worth $1,681,000 after purchasing an additional 4,371 shares during the last quarter. Finally, SouthState Corp raised its holdings in shares of Danaher by 3.3% in the 4th quarter. SouthState Corp now owns 94,413 shares of the conglomerate’s stock worth $21,842,000 after purchasing an additional 3,008 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity at Danaher

In other Danaher news, Director Alan G. Spoon sold 708 shares of Danaher stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the sale, the director now directly owns 116,202 shares in the company, valued at $28,304,483.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Danaher news, Director Alan G. Spoon sold 708 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now directly owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teri List sold 3,289 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.32, for a total value of $816,724.48. Following the completion of the sale, the director now directly owns 19,726 shares of the company’s stock, valued at approximately $4,898,360.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,273 shares of company stock valued at $26,813,819. 11.10% of the stock is owned by corporate insiders.

Danaher Stock Up 0.6 %

Danaher stock traded up $1.54 during trading hours on Friday, hitting $248.38. The company had a trading volume of 1,787,817 shares, compared to its average volume of 2,914,990. The firm’s fifty day moving average is $248.48 and its 200-day moving average is $232.27. The firm has a market capitalization of $183.97 billion, a P/E ratio of 42.10, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $259.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.85 and a quick ratio of 1.51.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.62 billion. Danaher had a net margin of 16.78% and a return on equity of 11.43%. Danaher’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.36 earnings per share. On average, research analysts forecast that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.43%. This is a positive change from Danaher’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 27th. Danaher’s payout ratio is currently 18.31%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DHR. Citigroup raised their target price on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. HSBC raised Danaher from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $280.00 in a research report on Wednesday, April 17th. KeyCorp increased their price target on Danaher from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Bank of America boosted their price objective on Danaher from $258.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Barclays raised their target price on shares of Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Danaher presently has an average rating of “Moderate Buy” and a consensus target price of $267.31.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.