Convergence Financial LLC Has $234,000 Holdings in Danaher Co. (NYSE:DHR)

Convergence Financial LLC decreased its position in Danaher Co. (NYSE:DHR) by 20.1% in the fourth quarter, HoldingsChannel reports. The firm owned 1,020 shares of the conglomerate’s stock after selling 257 shares during the period. Convergence Financial LLC’s holdings in Danaher were worth $234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Danaher by 11.6% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,233 shares of the conglomerate’s stock worth $4,874,000 after buying an additional 2,202 shares during the period. Fort Pitt Capital Group LLC lifted its stake in Danaher by 3.2% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock worth $66,194,000 after acquiring an additional 7,421 shares in the last quarter. ORG Partners LLC boosted its position in Danaher by 1,212.8% during the 4th quarter. ORG Partners LLC now owns 2,770 shares of the conglomerate’s stock worth $636,000 after acquiring an additional 2,559 shares during the period. Harvest Portfolios Group Inc. grew its stake in Danaher by 1.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock valued at $56,233,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Generate Investment Management Ltd acquired a new position in shares of Danaher in the 4th quarter valued at about $8,044,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Brian W. Ellis sold 5,700 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $224.13, for a total transaction of $1,277,541.00. Following the completion of the transaction, the senior vice president now directly owns 20,230 shares in the company, valued at $4,534,149.90. This represents a 21.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is owned by company insiders.

Danaher Stock Performance

NYSE:DHR opened at $205.69 on Friday. The firm has a market capitalization of $147.01 billion, a PE ratio of 38.96, a PEG ratio of 2.66 and a beta of 0.83. Danaher Co. has a 1 year low of $196.80 and a 1 year high of $281.70. The company has a current ratio of 1.40, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $225.00 and its 200 day simple moving average is $245.50.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Wednesday, January 29th. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.14. Danaher had a return on equity of 10.82% and a net margin of 16.33%. During the same period in the prior year, the company earned $2.09 EPS. On average, sell-side analysts anticipate that Danaher Co. will post 7.63 EPS for the current year.

Danaher Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Danaher’s previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.62%. Danaher’s payout ratio is 24.24%.

Analyst Ratings Changes

Several research firms recently commented on DHR. The Goldman Sachs Group set a $250.00 price target on shares of Danaher in a report on Wednesday, January 15th. Jefferies Financial Group decreased their target price on shares of Danaher from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird dropped their price target on shares of Danaher from $277.00 to $268.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Raymond James reissued a “market perform” rating on shares of Danaher in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $277.00 target price (down from $299.00) on shares of Danaher in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $278.00.

Danaher Profile

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.