Texas Permanent School Fund Cuts Holdings in Danaher Co. (DHR)
Texas Permanent School Fund cut its holdings in shares of Danaher Co. (NYSE:DHR) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,107 shares of the conglomerate’s stock after selling 2,310 shares during the period. Texas Permanent School Fund’s holdings in Danaher were worth $15,511,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Danaher by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 41,488,407 shares of the conglomerate’s stock valued at $3,501,206,000 after acquiring an additional 520,776 shares during the period. BlackRock Inc. raised its position in shares of Danaher by 3.2% in the 2nd quarter. BlackRock Inc. now owns 39,201,798 shares of the conglomerate’s stock valued at $3,308,239,000 after acquiring an additional 1,233,876 shares during the period. FMR LLC raised its position in shares of Danaher by 0.9% in the 2nd quarter. FMR LLC now owns 19,624,350 shares of the conglomerate’s stock valued at $1,656,100,000 after acquiring an additional 183,183 shares during the period. Parnassus Investments CA raised its position in shares of Danaher by 0.3% in the 3rd quarter. Parnassus Investments CA now owns 9,796,584 shares of the conglomerate’s stock valued at $840,351,000 after acquiring an additional 29,381 shares during the period. Finally, Flossbach Von Storch AG raised its position in shares of Danaher by 17.2% in the 3rd quarter. Flossbach Von Storch AG now owns 6,776,921 shares of the conglomerate’s stock valued at $581,324,000 after acquiring an additional 994,902 shares during the period. Institutional investors own 76.12% of the company’s stock.
In other news, SVP Daniel Raskas sold 37,870 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $93.33, for a total transaction of $3,534,407.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Patrick Joyce, Jr. sold 125,989 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $92.64, for a total transaction of $11,671,620.96. Following the transaction, the chief executive officer now directly owns 271,737 shares of the company’s stock, valued at $25,173,715.68. The disclosure for this sale can be found here. 12.20% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.56%. Danaher’s dividend payout ratio is currently 16.67%.
A number of analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Danaher in a research report on Monday. They issued a “buy” rating and a $99.97 price target on the stock. Stifel Nicolaus restated a “buy” rating and set a $110.00 target price on shares of Danaher in a report on Friday. Robert W. Baird restated a “buy” rating on shares of Danaher in a report on Friday, January 12th. Royal Bank of Canada restated a “hold” rating and set a $96.00 target price on shares of Danaher in a report on Thursday, January 4th. Finally, Evercore ISI began coverage on shares of Danaher in a report on Wednesday, January 3rd. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Danaher presently has an average rating of “Buy” and a consensus target price of $96.10.
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Danaher 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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