Pinnbrook Capital Management LP Makes New Investment in Danaher Corporation $DHR

Pinnbrook Capital Management LP purchased a new position in Danaher Corporation (NYSE:DHR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 43,387 shares of the conglomerate’s stock, valued at approximately $9,932,000. Danaher accounts for 1.4% of Pinnbrook Capital Management LP’s holdings, making the stock its 20th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC bought a new position in Danaher in the 3rd quarter worth approximately $462,000. Bank Pictet & Cie Europe AG increased its position in Danaher by 25.4% in 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 during the period. Lockheed Martin Investment Management Co. increased its position in shares of Danaher by 49.4% during the third quarter. Lockheed Martin Investment Management Co. now owns 25,340 shares of the conglomerate’s stock valued at $5,024,000 after purchasing an additional 8,380 shares during the period. Johnson Investment Counsel Inc. increased its position in shares of Danaher by 2.9% during the third quarter. Johnson Investment Counsel Inc. now owns 664,705 shares of the conglomerate’s stock valued at $131,784,000 after purchasing an additional 18,744 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its position in shares of Danaher by 4.6% during the third quarter. Resona Asset Management Co. Ltd. now owns 513,288 shares of the conglomerate’s stock valued at $100,071,000 after purchasing an additional 22,595 shares during the period. 79.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

DHR has been the topic of a number of research reports. Rothschild & Co Redburn set a $205.00 price objective on Danaher in a research report on Friday, April 17th. Royal Bank Of Canada initiated coverage on Danaher in a research report on Thursday, May 14th. They set an “outperform” rating and a $200.00 price objective on the stock. Argus lowered their price objective on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Wells Fargo & Company lowered their price objective on Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 22nd. Finally, Barclays lowered their price objective on Danaher from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and an average price target of $238.65.

Danaher Stock Performance

Shares of NYSE:DHR opened at $173.51 on Friday. The business’s fifty day moving average price is $183.98 and its two-hundred day moving average price is $208.99. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The stock has a market capitalization of $122.80 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm 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 business posted $1.88 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts predict that Danaher Corporation will post 8.43 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, June 26th. Danaher’s dividend payout ratio is 30.95%.

About Danaher

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.