Metropolitan Life Insurance Co NY decreased its holdings in Danaher Co. (NYSE:DHR) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 87,129 shares of the conglomerate’s stock after selling 1,573 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Danaher were worth $11,502,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DHR. Norges Bank acquired a new position in Danaher in the 4th quarter worth about $747,082,000. Oregon Public Employees Retirement Fund raised its holdings in Danaher by 10,085.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,863,048 shares of the conglomerate’s stock worth $67,000 after purchasing an additional 6,795,666 shares during the period. Jennison Associates LLC acquired a new position in Danaher in the 1st quarter worth about $489,930,000. Findlay Park Partners LLP raised its holdings in Danaher by 25.0% in the 4th quarter. Findlay Park Partners LLP now owns 4,595,000 shares of the conglomerate’s stock worth $473,836,000 after purchasing an additional 920,000 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in Danaher by 74.3% in the 4th quarter. 1832 Asset Management L.P. now owns 2,129,142 shares of the conglomerate’s stock worth $219,310,000 after purchasing an additional 907,593 shares during the period. 78.82% of the stock is owned by institutional investors.
NYSE:DHR opened at $140.04 on Monday. Danaher Co. has a 12 month low of $94.59 and a 12 month high of $140.25. The company has a quick ratio of 1.74, a current ratio of 2.18 and a debt-to-equity ratio of 0.32. The company has a market cap of $99.97 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.70 and a beta of 0.95.
Danaher (NYSE:DHR) last posted its quarterly earnings data on Thursday, April 18th. The conglomerate reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.06. Danaher had a return on equity of 11.61% and a net margin of 12.04%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business earned $0.99 EPS. Danaher’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Danaher Co. will post 4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.68 annualized dividend and a yield of 0.49%. Danaher’s dividend payout ratio (DPR) is currently 15.04%.
A number of equities analysts recently weighed in on the company. Piper Jaffray Companies assumed coverage on Danaher in a report on Tuesday, June 11th. They issued a “neutral” rating and a $148.00 price target for the company. Zacks Investment Research raised Danaher from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Wolfe Research assumed coverage on Danaher in a report on Thursday, May 30th. They issued an “outperform” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $141.00 price target (up previously from $138.00) on shares of Danaher in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $140.00 price objective on shares of Danaher in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $133.00.
In other news, Director Alan G. Spoon sold 1,913 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $129.52, for a total value of $247,771.76. Following the completion of the sale, the director now directly owns 86,863 shares in the company, valued at $11,250,495.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Patrick Joyce, Jr. sold 183,878 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $131.30, for a total value of $24,143,181.40. Following the completion of the sale, the chief executive officer now owns 302,377 shares of the company’s stock, valued at $39,702,100.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,448 shares of company stock valued at $59,724,640. 11.40% of the stock is owned by company insiders.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
Further Reading: Green Investing
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