Danaher Co. (NYSE:DHR) Stake Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in Danaher Co. (NYSE:DHR) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,066 shares of the conglomerate’s stock after selling 7,065 shares during the period. Corebridge Financial Inc.’s holdings in Danaher were worth $37,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in Danaher in the 4th quarter valued at about $27,000. Decker Retirement Planning Inc. bought a new position in Danaher in the 4th quarter worth about $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Danaher in the fourth quarter valued at approximately $31,000. Strategic Financial Concepts LLC bought a new stake in shares of Danaher during the fourth quarter valued at approximately $31,000. Finally, Pineridge Advisors LLC boosted its position in shares of Danaher by 63.3% during the fourth quarter. Pineridge Advisors LLC now owns 147 shares of the conglomerate’s stock worth $34,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity at Danaher

In other Danaher news, SVP Brian W. Ellis sold 5,700 shares of Danaher stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $224.13, for a total transaction of $1,277,541.00. Following the transaction, the senior vice president now owns 20,230 shares of the company’s stock, valued at $4,534,149.90. The trade was a 21.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DHR shares. Barclays lowered their target price on Danaher from $275.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. reduced their price objective on shares of Danaher from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group decreased their target price on shares of Danaher from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Finally, The Goldman Sachs Group upgraded shares of Danaher from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Friday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $278.24.

Danaher Price Performance

NYSE DHR opened at $211.63 on Monday. Danaher Co. has a 1 year low of $196.80 and a 1 year high of $281.70. The stock’s 50-day moving average price is $217.46 and its two-hundred day moving average price is $238.50. The company has a market cap of $151.26 billion, a PE ratio of 40.08, a PEG ratio of 2.66 and a beta of 0.82. The company has a current ratio of 1.40, a quick ratio of 1.05 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHR) last released its quarterly earnings results on Wednesday, January 29th. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.14. Danaher had a net margin of 16.33% and a return on equity of 10.82%. During the same quarter last year, the company earned $2.09 EPS. On average, analysts predict that Danaher Co. will post 7.63 EPS for the current year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Danaher’s previous quarterly dividend of $0.27. Danaher’s dividend payout ratio (DPR) is 24.24%.

About Danaher

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.