Danaher Co. (DHR) Position Trimmed by Olstein Capital Management L.P.
Olstein Capital Management L.P. decreased its position in shares of Danaher Co. (NYSE:DHR) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,000 shares of the conglomerate’s stock after selling 1,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Danaher were worth $5,433,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitchell Capital Management Co. raised its stake in Danaher by 31.6% during the second quarter. Mitchell Capital Management Co. now owns 7,962 shares of the conglomerate’s stock worth $786,000 after acquiring an additional 1,914 shares in the last quarter. Private Wealth Partners LLC raised its stake in Danaher by 14.3% during the second quarter. Private Wealth Partners LLC now owns 95,800 shares of the conglomerate’s stock worth $9,454,000 after acquiring an additional 11,961 shares in the last quarter. Centaurus Financial Inc. raised its stake in Danaher by 20.3% during the second quarter. Centaurus Financial Inc. now owns 3,026 shares of the conglomerate’s stock worth $299,000 after acquiring an additional 510 shares in the last quarter. Bainco International Investors raised its stake in Danaher by 2.6% during the third quarter. Bainco International Investors now owns 66,878 shares of the conglomerate’s stock worth $7,267,000 after acquiring an additional 1,725 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Danaher by 12.5% during the second quarter. CIBC Asset Management Inc now owns 68,204 shares of the conglomerate’s stock worth $6,730,000 after acquiring an additional 7,565 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Daniel L. Comas sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $103.88, for a total value of $3,739,680.00. Following the completion of the transaction, the chief financial officer now owns 124,218 shares of the company’s stock, valued at $12,903,765.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert S. Lutz sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $103.80, for a total value of $1,557,000.00. Following the completion of the transaction, the senior vice president now directly owns 33,044 shares of the company’s stock, valued at approximately $3,429,967.20. The disclosure for this sale can be found here. Insiders sold 150,007 shares of company stock valued at $15,202,163 in the last ninety days. 11.90% of the stock is currently owned by insiders.
Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. Danaher had a return on equity of 11.59% and a net margin of 14.07%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Danaher Co. will post 4.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, September 28th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, September 27th. Danaher’s dividend payout ratio is currently 15.88%.
DHR has been the subject of several research analyst reports. Zacks Investment Research raised Danaher from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Wednesday, September 19th. Morgan Stanley boosted their target price on Danaher from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Friday, July 20th. Royal Bank of Canada boosted their target price on Danaher to $107.00 and gave the stock a “positive” rating in a research note on Thursday, July 19th. They noted that the move was a valuation call. Robert W. Baird lowered their target price on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Finally, Bank of America set a $113.00 target price on Danaher and gave the stock a “buy” rating in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $112.14.
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Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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