Truist Financial Corp Cuts Stock Holdings in Danaher Co. (NYSE:DHR)

Truist Financial Corp trimmed its position in shares of Danaher Co. (NYSE:DHR) by 10.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 554,991 shares of the conglomerate’s stock after selling 64,856 shares during the period. Truist Financial Corp’s holdings in Danaher were worth $128,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Danaher by 18.6% during the 3rd quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock valued at $6,185,203,000 after purchasing an additional 3,905,449 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Danaher by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,183,501 shares of the conglomerate’s stock worth $2,030,327,000 after acquiring an additional 502,868 shares in the last quarter. Northern Trust Corp increased its holdings in Danaher by 1.7% in the 3rd quarter. Northern Trust Corp now owns 8,100,722 shares of the conglomerate’s stock worth $2,009,789,000 after acquiring an additional 134,905 shares in the last quarter. Flossbach Von Storch AG increased its holdings in Danaher by 1.8% in the 4th quarter. Flossbach Von Storch AG now owns 4,601,351 shares of the conglomerate’s stock worth $1,064,477,000 after acquiring an additional 82,672 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Danaher by 13.2% in the 3rd quarter. Invesco Ltd. now owns 4,070,455 shares of the conglomerate’s stock worth $1,009,880,000 after acquiring an additional 473,693 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Up 0.3 %

Shares of DHR stock traded up $0.78 on Friday, hitting $246.58. 2,710,446 shares of the stock traded hands, compared to its average volume of 2,710,897. The firm’s 50-day moving average price is $248.87 and its two-hundred day moving average price is $231.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.37 and a current ratio of 1.85. The stock has a market capitalization of $182.64 billion, a PE ratio of 41.77, a PEG ratio of 3.78 and a beta of 0.83. Danaher Co. has a twelve month low of $182.09 and a twelve month high of $259.00.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter in the prior year, the company posted $2.36 earnings per share. Danaher’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, analysts anticipate that Danaher Co. will post 7.65 EPS for the current year.

Danaher Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were given a $0.27 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.44%. This is a boost from Danaher’s previous quarterly dividend of $0.24. Danaher’s dividend payout ratio is presently 18.31%.

Insider Buying and Selling at Danaher

In other Danaher news, SVP Daniel Raskas sold 23,757 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $252.00, for a total transaction of $5,986,764.00. Following the sale, the senior vice president now directly owns 38,102 shares in the company, valued at $9,601,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Danaher news, SVP Daniel Raskas sold 23,757 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $252.00, for a total transaction of $5,986,764.00. Following the sale, the senior vice president now directly owns 38,102 shares in the company, valued at $9,601,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter G. Lohr sold 3,289 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $251.15, for a total transaction of $826,032.35. Following the sale, the director now owns 14,129 shares in the company, valued at $3,548,498.35. The disclosure for this sale can be found here. Insiders have sold 106,565 shares of company stock valued at $26,641,364 over the last 90 days. 11.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on DHR. Raymond James boosted their price target on shares of Danaher from $240.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Citigroup boosted their price target on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. KeyCorp lifted their target price on shares of Danaher from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Bank of America lifted their target price on shares of Danaher from $258.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.00.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.