Renaissance Investment Group LLC Has $8.07 Million Stake in Danaher Corporation (NYSE:DHR)

Renaissance Investment Group LLC decreased its position in Danaher Corporation (NYSE:DHR) by 21.9% in the first quarter, HoldingsChannel reports. The firm owned 39,388 shares of the conglomerate’s stock after selling 11,066 shares during the period. Danaher accounts for about 2.0% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 28th biggest holding. Renaissance Investment Group LLC’s holdings in Danaher were worth $8,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHR. Mawer Investment Management Ltd. lifted its position in Danaher by 1.8% in the 1st quarter. Mawer Investment Management Ltd. now owns 434,608 shares of the conglomerate’s stock worth $89,095,000 after buying an additional 7,756 shares in the last quarter. TCTC Holdings LLC lifted its position in Danaher by 2.6% in the 1st quarter. TCTC Holdings LLC now owns 7,343 shares of the conglomerate’s stock worth $1,505,000 after buying an additional 186 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its position in Danaher by 1.1% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 7,349 shares of the conglomerate’s stock worth $1,373,000 after buying an additional 80 shares in the last quarter. Fielder Capital Group LLC purchased a new stake in Danaher in the 1st quarter worth approximately $202,000. Finally, Schubert & Co lifted its position in Danaher by 0.3% in the 1st quarter. Schubert & Co now owns 39,648 shares of the conglomerate’s stock worth $8,128,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE DHR opened at $202.91 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22. The firm has a market capitalization of $145.29 billion, a price-to-earnings ratio of 43.17, a P/E/G ratio of 2.86 and a beta of 0.77. The company’s fifty day moving average is $196.51 and its two-hundred day moving average is $203.22. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $281.70.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.16. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. Equities research analysts forecast that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.63%. Danaher’s dividend payout ratio (DPR) is currently 27.23%.

Insider Activity

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DHR shares. Wolfe Research cut their target price on shares of Danaher from $275.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. cut their target price on shares of Danaher from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Citigroup reiterated a “buy” rating on shares of Danaher in a research report on Monday, April 7th. Scotiabank upgraded shares of Danaher from a “sector perform” rating to a “sector outperform” rating and set a $275.00 price target on the stock in a report on Friday, July 11th. Finally, Barclays restated an “overweight” rating and set a $225.00 price target (up previously from $215.00) on shares of Danaher in a report on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.61.

Danaher Profile

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.