Montag & Caldwell LLC trimmed its position in Danaher Corporation (NYSE:DHR) by 32.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 995,683 shares of the conglomerate’s stock after selling 479,772 shares during the quarter. Danaher Corporation makes up 2.5% of Montag & Caldwell LLC’s investment portfolio, making the stock its 24th largest position. Montag & Caldwell LLC owned approximately 0.14% of Danaher Corporation worth $84,026,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Peddock Capital Advisors LLC raised its holdings in shares of Danaher Corporation by 17.4% in the 1st quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 181 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Danaher Corporation by 92.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock valued at $105,000 after purchasing an additional 598 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Danaher Corporation in the 1st quarter valued at $157,000. Cornerstone Advisors Inc. raised its holdings in shares of Danaher Corporation by 62.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock valued at $178,000 after purchasing an additional 808 shares in the last quarter. Finally, Baystate Wealth Management LLC raised its holdings in shares of Danaher Corporation by 11.3% in the 2nd quarter. Baystate Wealth Management LLC now owns 2,115 shares of the conglomerate’s stock valued at $181,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 75.68% of the company’s stock.
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A number of brokerages have recently weighed in on DHR. Wells Fargo & Company began coverage on shares of Danaher Corporation in a report on Thursday, July 13th. They issued a “market perform” rating and a $90.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and issued a $95.00 price objective on shares of Danaher Corporation in a report on Friday, August 4th. BidaskClub lowered shares of Danaher Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered shares of Danaher Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $97.00 price objective on shares of Danaher Corporation in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.72.
Danaher Corporation (NYSE DHR) opened at 86.87 on Wednesday. The firm’s 50-day moving average is $82.99 and its 200 day moving average is $84.20. The stock has a market capitalization of $60.35 billion, a P/E ratio of 27.73 and a beta of 1.03. Danaher Corporation has a 12 month low of $75.71 and a 12 month high of $88.62.
Danaher Corporation (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities analysts anticipate that Danaher Corporation will post $3.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.56 annualized dividend and a yield of 0.64%. Danaher Corporation’s dividend payout ratio is presently 17.83%.
In other Danaher Corporation news, insider William King sold 7,458 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $82.97, for a total transaction of $618,790.26. Following the sale, the insider now directly owns 18,245 shares of the company’s stock, valued at $1,513,787.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda P. Hefner sold 10,578 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the sale, the director now directly owns 42,151 shares in the company, valued at $3,499,797.53. The disclosure for this sale can be found here. Insiders sold 71,496 shares of company stock worth $5,916,223 over the last ninety days. 12.20% of the stock is currently owned by corporate insiders.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which 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; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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