Atlanta Capital Management Co. L L C lifted its stake in Danaher Co. (NYSE:DHR) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,993,194 shares of the conglomerate’s stock after buying an additional 77,308 shares during the period. Danaher makes up 1.4% of Atlanta Capital Management Co. L L C’s portfolio, making the stock its 14th biggest position. Atlanta Capital Management Co. L L C owned 0.29% of Danaher worth $275,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of DHR. Geode Capital Management LLC boosted its holdings in Danaher by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 9,478,677 shares of the conglomerate’s stock valued at $1,451,692,000 after purchasing an additional 286,929 shares during the last quarter. Norges Bank bought a new position in Danaher during the 4th quarter worth approximately $1,095,974,000. Goldman Sachs Group Inc. lifted its holdings in Danaher by 26.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,296,233 shares of the conglomerate’s stock worth $812,866,000 after buying an additional 1,110,841 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Danaher by 12.8% during the 4th quarter. Janus Henderson Group PLC now owns 5,210,644 shares of the conglomerate’s stock worth $799,731,000 after buying an additional 592,810 shares during the last quarter. Finally, Parnassus Investments CA lifted its holdings in Danaher by 0.7% during the 1st quarter. Parnassus Investments CA now owns 4,876,638 shares of the conglomerate’s stock worth $674,975,000 after buying an additional 33,333 shares during the last quarter. 77.80% of the stock is owned by institutional investors.
A number of research firms have commented on DHR. Citigroup increased their target price on Danaher from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Robert W. Baird reiterated a “buy” rating and set a $136.00 price target on shares of Danaher in a research report on Monday, March 23rd. Stifel Nicolaus increased their price target on Danaher from $147.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Wells Fargo & Co increased their price target on Danaher from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, Cowen reiterated a “buy” rating and set a $170.00 price target on shares of Danaher in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $168.69.
Danaher (NYSE:DHR) last issued its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates 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 last year, the company posted $1.07 EPS. As a group, equities research analysts forecast that Danaher Co. will post 4.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 0.44%. The ex-dividend date of this dividend is Thursday, June 25th. Danaher’s payout ratio is currently 16.29%.
In other news, EVP Rainer Blair sold 3,330 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $165.96, for a total transaction of $552,646.80. Following the completion of the sale, the executive vice president now directly owns 36,256 shares of the company’s stock, valued at approximately $6,017,045.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Daniel Raskas sold 37,082 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.09, for a total value of $6,084,785.38. Following the sale, the senior vice president now directly owns 19,723 shares of the company’s stock, valued at $3,236,347.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,318 shares of company stock valued at $13,941,119. 11.70% of the stock is currently owned by corporate insiders.
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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