Arizona State Retirement System Cuts Stake in Danaher Corporation (DHR)
Arizona State Retirement System lessened its holdings in Danaher Corporation (NYSE:DHR) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,368 shares of the conglomerate’s stock after selling 5,600 shares during the quarter. Arizona State Retirement System’s holdings in Danaher Corporation were worth $16,487,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. National Planning Corp lifted its position in shares of Danaher Corporation by 11.6% in the second quarter. National Planning Corp now owns 4,137 shares of the conglomerate’s stock worth $349,000 after purchasing an additional 430 shares in the last quarter. Bank of The Ozarks lifted its position in shares of Danaher Corporation by 3.9% in the second quarter. Bank of The Ozarks now owns 6,007 shares of the conglomerate’s stock worth $507,000 after purchasing an additional 225 shares in the last quarter. Cadinha & Co. LLC lifted its position in shares of Danaher Corporation by 1.1% in the second quarter. Cadinha & Co. LLC now owns 243,108 shares of the conglomerate’s stock worth $20,516,000 after purchasing an additional 2,706 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Danaher Corporation by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,972,012 shares of the conglomerate’s stock worth $166,419,000 after purchasing an additional 94,763 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Danaher Corporation by 29.7% in the second quarter. Canada Pension Plan Investment Board now owns 656,467 shares of the conglomerate’s stock worth $55,399,000 after purchasing an additional 150,400 shares in the last quarter. 75.68% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Danaher Corporation in a research report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Danaher Corporation in a research report on Friday, August 4th. BidaskClub lowered shares of Danaher Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Danaher Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $97.00 price objective on shares of Danaher Corporation in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $92.72.
Danaher Corporation (NYSE:DHR) opened at 88.11 on Tuesday. The company’s 50-day moving average is $82.84 and its 200-day moving average is $84.20. The firm has a market capitalization of $61.21 billion, a P/E ratio of 28.12 and a beta of 1.03. Danaher Corporation has a one year low of $75.71 and a one year high of $88.59.
Danaher Corporation (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the business earned $0.90 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, September 28th. Danaher Corporation’s dividend payout ratio is presently 17.83%.
In other news, insider William King sold 7,458 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $82.97, for a total transaction of $618,790.26. Following the completion of the sale, the insider now directly owns 18,245 shares of the company’s stock, valued at approximately $1,513,787.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linda P. Hefner sold 10,578 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $83.03, for a total value of $878,291.34. Following the sale, the director now directly owns 42,151 shares of the company’s stock, valued at $3,499,797.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,496 shares of company stock valued at $5,916,223. Insiders own 12.20% of the company’s stock.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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