Meyer Handelman Co. Has $10.11 Million Stake in Danaher Co. (NYSE:DHR)

Meyer Handelman Co. trimmed its holdings in Danaher Co. (NYSE:DHR) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,327 shares of the conglomerate’s stock after selling 2,648 shares during the period. Meyer Handelman Co.’s holdings in Danaher were worth $10,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Danaher during the fourth quarter worth about $2,130,740,000. GAMMA Investing LLC boosted its position in shares of Danaher by 24,958.2% during the first quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate’s stock worth $383,524,000 after buying an additional 1,863,381 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Danaher during the fourth quarter worth about $391,172,000. Two Sigma Advisers LP boosted its position in shares of Danaher by 4,248.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate’s stock worth $376,347,000 after buying an additional 1,601,800 shares during the period. Finally, Capital World Investors boosted its position in shares of Danaher by 32.7% during the fourth quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate’s stock worth $1,460,215,000 after buying an additional 1,566,658 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on DHR. Jefferies Financial Group reduced their price objective on Danaher from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Danaher in a research report on Wednesday, April 23rd. Stifel Nicolaus raised Danaher from a “hold” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Friday, March 14th. UBS Group reduced their price target on Danaher from $275.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup reissued a “buy” rating on shares of Danaher in a research report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Danaher currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.24.

Danaher Price Performance

NYSE:DHR opened at $189.54 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $192.72 and its two-hundred day moving average price is $213.78. The firm has a market capitalization of $135.65 billion, a price-to-earnings ratio of 35.90, a P/E/G ratio of 2.66 and a beta of 0.80. Danaher Co. has a 12-month low of $171.00 and a 12-month high of $281.70.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.58 billion. Danaher had a return on equity of 10.82% and a net margin of 16.33%. On average, analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.68%. Danaher’s dividend payout ratio is 24.85%.

Insider Transactions at Danaher

In other news, EVP Christopher Paul Riley sold 15,805 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the transaction, the executive vice president now owns 15,179 shares in the company, valued at approximately $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the transaction, the chairman now owns 3,105,808 shares in the company, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their position. The disclosure for this sale can be found here. 11.20% of the stock is owned by corporate insiders.

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.