Alley Co LLC lifted its position in Danaher Co. (NYSE:DHR) by 8.0% in the 1st quarter, HoldingsChannel reports. The fund owned 33,018 shares of the conglomerate’s stock after acquiring an additional 2,449 shares during the period. Alley Co LLC’s holdings in Danaher were worth $4,359,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Canton Hathaway LLC boosted its position in Danaher by 8.7% during the 1st quarter. Canton Hathaway LLC now owns 12,886 shares of the conglomerate’s stock valued at $1,701,000 after purchasing an additional 1,036 shares during the period. Abacus Planning Group Inc. boosted its position in Danaher by 52.3% during the 4th quarter. Abacus Planning Group Inc. now owns 9,979 shares of the conglomerate’s stock valued at $225,000 after purchasing an additional 3,428 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in Danaher during the 4th quarter valued at approximately $1,705,000. IHT Wealth Management LLC boosted its position in Danaher by 5.1% during the 4th quarter. IHT Wealth Management LLC now owns 2,023 shares of the conglomerate’s stock valued at $209,000 after purchasing an additional 98 shares during the period. Finally, Advisor Partners LLC boosted its position in Danaher by 17.3% during the 4th quarter. Advisor Partners LLC now owns 19,477 shares of the conglomerate’s stock valued at $2,008,000 after purchasing an additional 2,868 shares during the period. Institutional investors own 76.98% of the company’s stock.
In other Danaher news, insider Rainer Blair sold 37,859 shares of Danaher stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $127.45, for a total transaction of $4,825,129.55. Following the sale, the insider now owns 32,661 shares of the company’s stock, valued at approximately $4,162,644.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert S. Lutz sold 17,822 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $126.95, for a total value of $2,262,502.90. Following the completion of the sale, the chief accounting officer now directly owns 22,251 shares in the company, valued at approximately $2,824,764.45. The disclosure for this sale can be found here. Insiders have sold a total of 424,761 shares of company stock worth $54,983,097 in the last ninety days. 11.40% of the stock is owned by company insiders.
Danaher (NYSE:DHR) last announced its earnings results on Thursday, April 18th. The conglomerate reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.06. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.80 billion. Danaher had a return on equity of 11.61% and a net margin of 12.04%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. On average, research analysts forecast that Danaher Co. will post 4.77 EPS for the current fiscal year.
The firm 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.52%. The ex-dividend date is Thursday, June 27th. Danaher’s payout ratio is currently 15.04%.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Danaher from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Janney Montgomery Scott boosted their price objective on Danaher from $136.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. restated an “overweight” rating and set a $140.00 price objective on shares of Danaher in a research report on Monday, March 4th. Needham & Company LLC restated a “buy” rating and set a $138.00 price objective (up previously from $114.00) on shares of Danaher in a research report on Thursday, February 28th. Finally, UBS Group lifted their target price on Danaher from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Danaher currently has an average rating of “Buy” and a consensus target price of $131.75.
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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.
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