Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Danaher Corporation $DHR

Chevy Chase Trust Holdings LLC reduced its position in Danaher Corporation (NYSE:DHR) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,742 shares of the conglomerate’s stock after selling 13,710 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Danaher worth $74,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new position in Danaher in the second quarter valued at $26,000. Howard Hughes Medical Institute purchased a new stake in shares of Danaher during the 2nd quarter worth about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Danaher during the 3rd quarter worth about $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Danaher during the 3rd quarter valued at about $28,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of Danaher during the 3rd quarter valued at about $31,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Up 0.6%

DHR stock opened at $187.34 on Friday. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $242.80. The business’s 50-day moving average is $218.79 and its 200 day moving average is $215.41. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. The stock has a market cap of $132.47 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.54 and a beta of 0.93.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.09. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 earnings per share. On average, sell-side analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, March 27th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $1.60 annualized dividend and a yield of 0.9%. This is an increase from Danaher’s previous quarterly dividend of $0.32. Danaher’s dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DHR shares. TD Cowen reaffirmed a “buy” rating on shares of Danaher in a report on Wednesday, January 7th. HSBC raised their price objective on Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a report on Monday, December 1st. Evercore reaffirmed an “outperform” rating and set a $254.00 target price on shares of Danaher in a research note on Wednesday, January 28th. Wells Fargo & Company increased their target price on Danaher from $230.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group dropped their price target on shares of Danaher from $270.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Nineteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.55.

Insiders Place Their Bets

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the sale, the executive vice president owned 5,099 shares of the company’s stock, valued at $1,060,642.99. The trade was a 20.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.10% of the company’s stock.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.