Fulton Bank N.A. lessened its holdings in shares of Danaher Co. (NYSE:DHR) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,853 shares of the conglomerate’s stock after selling 436 shares during the period. Fulton Bank N.A.’s holdings in Danaher were worth $1,767,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in DHR. Norges Bank purchased a new stake in shares of Danaher in the 4th quarter valued at approximately $1,633,545,000. Edgewood Management LLC grew its stake in shares of Danaher by 109.5% in the 4th quarter. Edgewood Management LLC now owns 8,359,799 shares of the conglomerate’s stock valued at $1,857,046,000 after buying an additional 4,368,967 shares during the period. BlackRock Inc. grew its stake in shares of Danaher by 3.7% in the 4th quarter. BlackRock Inc. now owns 45,709,313 shares of the conglomerate’s stock valued at $10,153,866,000 after buying an additional 1,646,434 shares during the period. D1 Capital Partners L.P. grew its stake in shares of Danaher by 88.2% in the 4th quarter. D1 Capital Partners L.P. now owns 2,582,346 shares of the conglomerate’s stock valued at $573,642,000 after buying an additional 1,210,565 shares during the period. Finally, FMR LLC grew its stake in shares of Danaher by 3.7% in the 4th quarter. FMR LLC now owns 31,141,354 shares of the conglomerate’s stock valued at $6,917,740,000 after buying an additional 1,103,795 shares during the period. 78.00% of the stock is owned by institutional investors.
In other Danaher news, SVP Angela S. Lalor sold 6,437 shares of the stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $244.70, for a total value of $1,575,133.90. Following the sale, the senior vice president now directly owns 25,148 shares of the company’s stock, valued at approximately $6,153,715.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 11.70% of the company’s stock.
Danaher (NYSE:DHR) last released its earnings results on Thursday, January 28th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.24. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.62 billion. Danaher had a net margin of 18.05% and a return on equity of 12.94%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. On average, equities research analysts anticipate that Danaher Co. will post 6.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Friday, March 26th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, March 25th. This is a positive change from Danaher’s previous quarterly dividend of $0.18. This represents a $0.84 dividend on an annualized basis and a yield of 0.36%. Danaher’s dividend payout ratio is 19.00%.
Several analysts have recently weighed in on DHR shares. Zacks Investment Research cut shares of Danaher from a “buy” rating to a “hold” rating and set a $228.00 price target for the company. in a research note on Tuesday, March 16th. Barclays started coverage on shares of Danaher in a research note on Monday, March 8th. They issued an “overweight” rating and a $260.00 price target for the company. Finally, Credit Suisse Group upped their price objective on shares of Danaher from $260.00 to $264.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $236.47.
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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