MainStreet Investment Advisors LLC Buys 3,651 Shares of Danaher Co. (NYSE:DHR)

MainStreet Investment Advisors LLC raised its holdings in Danaher Co. (NYSE:DHR) by 166.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,843 shares of the conglomerate’s stock after acquiring an additional 3,651 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Danaher were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC grew its position in Danaher by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 9,478,677 shares of the conglomerate’s stock valued at $1,451,692,000 after acquiring an additional 286,929 shares during the last quarter. Norges Bank bought a new position in Danaher in the 4th quarter valued at $1,095,974,000. Goldman Sachs Group Inc. grew its position in Danaher by 26.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,296,233 shares of the conglomerate’s stock valued at $812,866,000 after acquiring an additional 1,110,841 shares during the last quarter. Janus Henderson Group PLC grew its position in Danaher by 12.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,210,644 shares of the conglomerate’s stock valued at $799,731,000 after acquiring an additional 592,810 shares during the last quarter. Finally, Parnassus Investments CA grew its position in Danaher by 0.7% in the 1st quarter. Parnassus Investments CA now owns 4,876,638 shares of the conglomerate’s stock valued at $674,975,000 after acquiring an additional 33,333 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors.

In related news, Chairman Mitchell P. Rales acquired 1,226 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $163.00 per share, for a total transaction of $199,838.00. Following the purchase, the chairman now directly owns 2,236,454 shares of the company’s stock, valued at approximately $364,542,002. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Daniel Raskas sold 37,082 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.09, for a total value of $6,084,785.38. Following the transaction, the senior vice president now directly owns 19,723 shares in the company, valued at $3,236,347.07. The disclosure for this sale can be found here. Insiders have sold a total of 70,974 shares of company stock valued at $11,564,444 over the last 90 days. 11.70% of the stock is currently owned by company insiders.

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Danaher from $159.00 to $173.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Citigroup upped their price objective on Danaher from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Piper Sandler upped their price objective on Danaher from $142.00 to $174.00 in a research report on Thursday, January 30th. Bank of America upped their target price on Danaher from $160.00 to $181.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wolfe Research cut Danaher from an “outperform” rating to a “market perform” rating and set a $154.00 target price for the company. in a report on Thursday, April 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Danaher currently has an average rating of “Buy” and a consensus target price of $168.69.

Shares of NYSE DHR traded up $0.60 during mid-day trading on Friday, reaching $158.26. 1,483,268 shares of the company were exchanged, compared to its average volume of 3,639,653. The company has a quick ratio of 1.01, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. The stock has a market cap of $109.97 billion, a price-to-earnings ratio of 35.97, a P/E/G ratio of 3.56 and a beta of 0.93. Danaher Co. has a 1 year low of $119.60 and a 1 year high of $170.64. The firm has a 50-day moving average of $155.43 and a 200 day moving average of $151.19.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Wednesday, May 6th. The conglomerate reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Danaher had a return on equity of 11.52% and a net margin of 16.85%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 EPS. On average, equities analysts forecast that Danaher Co. will post 4.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, June 25th. Danaher’s dividend payout ratio (DPR) is currently 16.29%.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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