Pitcairn Co. Cuts Position in Danaher Corporation (DHR)
Pitcairn Co. cut its holdings in shares of Danaher Corporation (NYSE:DHR) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,542 shares of the conglomerate’s stock after selling 7,161 shares during the quarter. Danaher Corporation makes up 0.4% of Pitcairn Co.’s portfolio, making the stock its 25th largest position. Pitcairn Co.’s holdings in Danaher Corporation were worth $3,649,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TLP Group LLC purchased a new stake in Danaher Corporation during the first quarter worth about $383,000. Principal Financial Group Inc. raised its holdings in Danaher Corporation by 38.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,201,448 shares of the conglomerate’s stock valued at $188,289,000 after buying an additional 610,774 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Danaher Corporation by 5.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 4,063 shares of the conglomerate’s stock valued at $348,000 after purchasing an additional 217 shares during the period. FMR LLC increased its position in Danaher Corporation by 0.3% during the 1st quarter. FMR LLC now owns 19,441,167 shares of the conglomerate’s stock valued at $1,662,803,000 after purchasing an additional 53,429 shares during the period. Finally, Advantus Capital Management Inc increased its position in Danaher Corporation by 0.7% during the 1st quarter. Advantus Capital Management Inc now owns 61,392 shares of the conglomerate’s stock valued at $5,251,000 after purchasing an additional 439 shares during the period. 75.56% of the stock is owned by hedge funds and other institutional investors.
In other news, insider William King sold 43,688 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the sale, the insider now directly owns 45,748 shares of the company’s stock, valued at approximately $3,790,679.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $90.82, for a total value of $960,693.96. Following the completion of the sale, the director now directly owns 104,621 shares of the company’s stock, valued at $9,501,679.22. The disclosure for this sale can be found here. Insiders sold a total of 317,498 shares of company stock worth $28,838,801 over the last quarter. Company insiders own 12.20% of the company’s stock.
Danaher Corporation (NYSE:DHR) opened at $94.18 on Wednesday. Danaher Corporation has a 12 month low of $76.27 and a 12 month high of $94.22. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $65,164.29, a PE ratio of 24.08, a P/E/G ratio of 2.23 and a beta of 1.02.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings results on Thursday, October 19th. The conglomerate reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.47 billion. Danaher Corporation had a return on equity of 11.29% and a net margin of 13.36%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. analysts forecast that Danaher Corporation will post 3.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.59%. Danaher Corporation’s dividend payout ratio (DPR) is currently 16.52%.
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A number of analysts have recently weighed in on DHR shares. Zacks Investment Research raised shares of Danaher Corporation from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Thursday, October 5th. Cowen and Company reiterated a “buy” rating and issued a $90.00 price target on shares of Danaher Corporation in a research note on Wednesday, October 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Danaher Corporation in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $83.00 target price on shares of Danaher Corporation in a research note on Tuesday, September 26th. Finally, Robert W. Baird increased their price objective on shares of Danaher Corporation from $87.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $93.31.
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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