King Luther Capital Management Corp Lowers Stock Position in Danaher Co. (NYSE:DHR)

King Luther Capital Management Corp decreased its stake in Danaher Co. (NYSE:DHR) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,043,795 shares of the conglomerate’s stock after selling 23,875 shares during the period. Danaher accounts for about 3.1% of King Luther Capital Management Corp’s holdings, making the stock its 4th biggest position. King Luther Capital Management Corp owned about 0.29% of Danaher worth $622,213,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in DHR. Camden National Bank raised its position in shares of Danaher by 1.1% in the fourth quarter. Camden National Bank now owns 5,817 shares of the conglomerate’s stock valued at $1,292,000 after purchasing an additional 65 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Danaher by 13.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 118,664 shares of the conglomerate’s stock valued at $31,845,000 after purchasing an additional 13,644 shares during the period. Dynamic Advisor Solutions LLC raised its position in shares of Danaher by 26.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 3,419 shares of the conglomerate’s stock valued at $918,000 after purchasing an additional 720 shares during the period. Primecap Management Co. CA bought a new stake in shares of Danaher in the second quarter valued at approximately $16,645,000. Finally, AGF Investments Inc. raised its position in shares of Danaher by 15.0% in the second quarter. AGF Investments Inc. now owns 199,954 shares of the conglomerate’s stock valued at $53,660,000 after purchasing an additional 26,153 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of Danaher stock traded up $1.26 during trading on Friday, reaching $293.31. The company’s stock had a trading volume of 3,170,848 shares, compared to its average volume of 2,694,129. The firm’s 50-day moving average is $312.66 and its two-hundred day moving average is $307.96. Danaher Co. has a 52-week low of $211.22 and a 52-week high of $333.96. The company has a quick ratio of 1.11, a current ratio of 1.48 and a debt-to-equity ratio of 0.59. The company has a market cap of $209.59 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 1.31 and a beta of 0.70.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Wednesday, October 20th. The conglomerate reported $2.39 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.24. Danaher had a net margin of 20.97% and a return on equity of 18.32%. The company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the business posted $1.72 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts anticipate that Danaher Co. will post 9.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Shareholders of record on Thursday, December 30th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, December 29th. This represents a $0.84 annualized dividend and a yield of 0.29%. Danaher’s dividend payout ratio (DPR) is presently 10.65%.

Several equities analysts recently commented on DHR shares. Sanford C. Bernstein started coverage on shares of Danaher in a research note on Monday, January 10th. They set an “outperform” rating and a $365.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Danaher from $332.00 to $334.00 and gave the company a “sector perform” rating in a research note on Friday, October 22nd. Zacks Investment Research cut shares of Danaher from a “buy” rating to a “hold” rating and set a $322.00 price objective for the company. in a research note on Wednesday, October 27th. Wells Fargo & Company boosted their price objective on shares of Danaher from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, December 14th. Finally, Citigroup boosted their price target on shares of Danaher from $345.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 22nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $341.07.

In related news, Chairman Mitchell P. Rales sold 343,862 shares of the stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $305.85, for a total transaction of $105,170,192.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Mcgrew sold 2,589 shares of the stock in a transaction dated Friday, November 26th. The shares were sold at an average price of $325.50, for a total transaction of $842,719.50. The disclosure for this sale can be found here. Insiders sold a total of 750,719 shares of company stock worth $233,160,046 over the last ninety days. Insiders own 11.40% of the company’s stock.

Danaher Company Profile

Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment 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.

Further Reading: Are sell-side analysts objective?

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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