First Trust Advisors LP Sells 17,106 Shares of Danaher Co. (NYSE:DHR)

First Trust Advisors LP lowered its position in shares of Danaher Co. (NYSE:DHRFree Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 291,082 shares of the conglomerate’s stock after selling 17,106 shares during the quarter. First Trust Advisors LP’s holdings in Danaher were worth $67,339,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Danaher by 18.6% in the third quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock worth $6,185,203,000 after purchasing an additional 3,905,449 shares in the last quarter. Northern Trust Corp increased its stake in shares of Danaher by 1.7% in the 3rd quarter. Northern Trust Corp now owns 8,100,722 shares of the conglomerate’s stock valued at $2,009,789,000 after acquiring an additional 134,905 shares in the last quarter. Norges Bank acquired a new position in shares of Danaher during the 4th quarter valued at $1,752,382,000. Franklin Resources Inc. boosted its stake in Danaher by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 6,620,170 shares of the conglomerate’s stock worth $1,531,510,000 after acquiring an additional 395,498 shares in the last quarter. Finally, Edgewood Management LLC grew its holdings in Danaher by 7.7% in the fourth quarter. Edgewood Management LLC now owns 6,381,293 shares of the conglomerate’s stock worth $1,476,248,000 after purchasing an additional 454,950 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DHR has been the topic of several research reports. HSBC upgraded shares of Danaher from a “hold” rating to a “buy” rating and upped their price objective for the company from $250.00 to $280.00 in a report on Wednesday, April 17th. Barclays increased their price target on Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Bank of America boosted their price objective on Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TD Cowen lifted their price target on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Citigroup upped their price objective on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $269.29.

Check Out Our Latest Stock Report on DHR

Insider Activity

In related news, CEO Rainer Blair sold 9,005 shares of Danaher stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $265.00, for a total value of $2,386,325.00. Following the sale, the chief executive officer now owns 106,990 shares of the company’s stock, valued at approximately $28,352,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Rainer Blair sold 9,005 shares of Danaher stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $265.00, for a total value of $2,386,325.00. Following the completion of the sale, the chief executive officer now owns 106,990 shares of the company’s stock, valued at approximately $28,352,350. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew Mcgrew sold 46,377 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $253.05, for a total transaction of $11,735,699.85. Following the transaction, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $7,441,441.35. The disclosure for this sale can be found here. Insiders sold 148,783 shares of company stock valued at $37,536,717 in the last three months. Company insiders own 11.10% of the company’s stock.

Danaher Stock Performance

DHR stock opened at $267.98 on Friday. The business has a 50 day moving average of $251.70 and a 200-day moving average of $242.39. The firm has a market cap of $198.49 billion, a PE ratio of 45.42, a P/E/G ratio of 4.10 and a beta of 0.85. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $269.11. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHRGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.62 billion. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.36 EPS. As a group, sell-side analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 28th. Danaher’s payout ratio is 18.31%.

Danaher Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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