State of Tennessee Treasury Department Lowers Holdings in Danaher Corporation (DHR)
State of Tennessee Treasury Department trimmed its stake in Danaher Corporation (NYSE:DHR) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,896 shares of the conglomerate’s stock after selling 10,566 shares during the period. State of Tennessee Treasury Department owned about 0.06% of Danaher Corporation worth $36,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Danaher Corporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 40,967,631 shares of the conglomerate’s stock valued at $3,503,962,000 after buying an additional 1,530,015 shares during the period. BlackRock Inc. boosted its position in Danaher Corporation by 2,530.9% in the 1st quarter. BlackRock Inc. now owns 37,967,922 shares of the conglomerate’s stock valued at $3,247,398,000 after buying an additional 36,524,795 shares during the period. FMR LLC boosted its position in Danaher Corporation by 0.3% in the 1st quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock valued at $1,662,803,000 after buying an additional 53,429 shares during the period. Bank of New York Mellon Corp boosted its position in Danaher Corporation by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 7,645,818 shares of the conglomerate’s stock valued at $653,946,000 after buying an additional 50,673 shares during the period. Finally, Geode Capital Management LLC boosted its position in Danaher Corporation by 6.0% in the 1st quarter. Geode Capital Management LLC now owns 5,815,659 shares of the conglomerate’s stock valued at $496,687,000 after buying an additional 329,458 shares during the period. 75.68% of the stock is owned by institutional investors.
In other Danaher Corporation news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.78, for a total value of $799,154.16. Following the transaction, the insider now directly owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William King sold 43,688 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the completion of the transaction, the insider now directly owns 45,748 shares in the company, valued at $3,790,679.28. The disclosure for this sale can be found here. Insiders sold a total of 71,496 shares of company stock worth $5,916,223 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.
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Shares of Danaher Corporation (NYSE:DHR) opened at 87.63 on Friday. Danaher Corporation has a 1-year low of $75.71 and a 1-year high of $88.62. The firm has a market cap of $60.88 billion, a price-to-earnings ratio of 27.97 and a beta of 1.03. The stock has a 50 day moving average of $85.07 and a 200-day moving average of $84.19.
Danaher Corporation (NYSE:DHR) last announced its earnings results on Thursday, July 20th. The conglomerate reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. Equities analysts anticipate that Danaher Corporation will post $3.95 EPS 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 issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.64%. Danaher Corporation’s payout ratio is 17.83%.
DHR has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price target (up previously from $86.00) on shares of Danaher Corporation in a research report on Friday. Cowen and Company reaffirmed a “buy” rating and issued a $90.00 price target on shares of Danaher Corporation in a research report on Wednesday. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $83.00 price target on shares of Danaher Corporation in a research report on Tuesday, September 26th. Wells Fargo & Company initiated 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 target for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Danaher Corporation in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Danaher Corporation currently has an average rating of “Buy” and an average price target of $92.62.
Danaher Corporation 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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