Torray LLC Lowers Position in Danaher Corporation (DHR)
Torray LLC trimmed its holdings in Danaher Corporation (NYSE:DHR) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 227,709 shares of the conglomerate’s stock after selling 27,641 shares during the period. Danaher Corporation accounts for about 2.0% of Torray LLC’s investment portfolio, making the stock its 14th largest position. Torray LLC’s holdings in Danaher Corporation were worth $19,216,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of DHR. Peddock Capital Advisors LLC lifted its holdings in Danaher Corporation by 17.4% in the 1st quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 181 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in Danaher Corporation by 92.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 598 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in Danaher Corporation in the 1st quarter valued at about $157,000. Cornerstone Advisors Inc. lifted its holdings in Danaher Corporation by 62.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock valued at $178,000 after purchasing an additional 808 shares in the last quarter. Finally, Baystate Wealth Management LLC lifted its holdings in Danaher Corporation by 11.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 2,115 shares of the conglomerate’s stock valued at $181,000 after purchasing an additional 215 shares in the last quarter. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director Linda P. Hefner sold 10,578 shares of Danaher Corporation stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the completion of the sale, the director now directly owns 42,151 shares in the company, valued at approximately $3,499,797.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of Danaher Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $81.78, for a total value of $799,154.16. Following the sale, the insider now owns 155,520 shares of the company’s stock, valued at $12,718,425.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,496 shares of company stock valued at $5,916,223. 12.20% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on DHR shares. Zacks Investment Research lowered shares of Danaher Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $83.00 target price on shares of Danaher Corporation in a report on Tuesday. BidaskClub upgraded shares of Danaher Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. J P Morgan Chase & Co restated an “overweight” rating and issued a $95.00 target price on shares of Danaher Corporation in a report on Friday, September 8th. Finally, Citigroup Inc. set a $96.00 target price on shares of Danaher Corporation and gave the company a “buy” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $91.98.
Shares of Danaher Corporation (NYSE DHR) opened at 85.46 on Thursday. The company’s 50-day moving average is $82.99 and its 200-day moving average is $84.20. Danaher Corporation has a 52-week low of $75.71 and a 52-week high of $88.62. The firm has a market cap of $59.37 billion, a P/E ratio of 27.28 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.02. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.50 billion. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. Equities research analysts forecast that Danaher Corporation will post $3.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.66%. Danaher Corporation’s dividend payout ratio is 17.83%.
Danaher Corporation Company Profile
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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